Bitcoin (BTC) millionaires are made when the BTC price crosses $20,000, data reveals.
According to on-chain analytics firm Glassnode, there are currently over 67,000 BTC wallets worth $1 million or more.
For $20,000, 50-BTC hodlers are content.
The connection between Bitcoin and the $20,000 price tag has made it famous.
As it marked the peak of Bitcoin's previous halving cycle, $20,000 has gained prominence and represents more than simply a boundary on a technical and psychological level.
As Glassnode has now demonstrated, a huge percentage of hodlers either become or become less millionaires in US dollars when BTC/USD hits that price mark.
In the aftermath of the FTX scam, Bitcoin plunged below $20,000 in late 2022, for instance, and the number of "millionaire" wallets dropped like a stone over night.
In January of this year, the reverse was seen: as soon as BTC/USD regained the $20,000 level, those wallets resurfaced in great numbers.
On Jan. 14, though, that wallet cohort had grown to 65,000, yet the price had only climbed by $1,000. It looks that exactly 50 Bitcoins are present in several wallets.
By comparison, there were around 113,000 wallets with a value of $1 million or more at the time of Bitcoin's most recent all-time high in November 2021.