Bitcoin has reached another milestone in its difficult journey towards global mainstream adoption as a decentralized peer-to-peer payment medium and digital store of value.
Bitcoin start September on the right foot. The number of Bitcoin (BTC) wallets hit a new all-time high of 48.24 million addresses. Amid volatile Bitcoin price action in recent weeks, this landmark achievement underscores deepening global adoption.
August 30th, Bitcoin (BTC) accomplished another historic feat. The number of Bitcoin wallet addresses exceeded 48 million, marking an all-time high. Bitcoin Hit Another Milestone In Its Difficult Journey Toward Adoption generalized overall as a means of decentralized payment between peers and a digital store of value.
Data from blockchain analytics platform IntoTheBlock shows that the total addresses containing BTC reached 48 million on August 30, 2023. This landmark achievement underscores the growing adoption and widespread interest in BTC as a decentralized digital asset.
Bitcoin: expanding users
Generally, an increase in on-chain wallet addresses reflects the base of expanding users within the Bitcoin network. The Users have been creating 5.61 million new Bitcoin wallet addresses in 2023.
By comparison, only 3.62 million BTC wallet addresses were created in 2022. Notably, this means that Bitcoin is 4 months away from already surpassing last year’s user acquisition rate by 55%.
The growing number of wallet addresses Bitcoin aligns with the broader trend of BTC’s growing popularity and acceptance of cryptocurrencies as an alternative asset class and medium of exchange.
As more institutional investors embrace Bitcoin, more retail entrants are encouraged to enter the scene, by creating new addresses.
