Ever since the early Bitcoin (BTC) investors woke up millionaires as the ecosystem gained tremendous popularity alongside the spread of the internet, investors around the world have been rushing to amass as much of the 21 million BTC as possible. , one Satoshi at a time.
With BTC recently trading in the $20,000 range for the first time since 2020, small investors found a small window of opportunity to achieve their dream of owning at least 1 BTC.. On June 20, Cointelegraph reported that the number of Bitcoin wallet addresses holding one BTC or more increased by 13,091 in just 7 days.
While the total number of addresses holding 1 BTC saw an immediate drop in the days to come, the cryptocurrency community on Reddit continues to welcome new crypto investors making their way to becoming a “wholecoiner” (people who own at least a BTC).
Redditor arbalest_22, who shared the screenshot above, revealed that it cost him around $35,000 in total to accumulate 1 BTC over several months from February 14, 2021. Showing greater support for the Bitcoin ecosystem, the redditor intends to continue acquiring Satoshis or sats until he accumulates more than 2 BTC.
Arbalest_22 started buying BTC on cryptocurrency exchange Coinbase, but later started using Strike due to lower fees. Sharing a glimpse of their future plans, they stated:
“I hope that in the future I can treat it more like rich people treat real estate and borrow against it. Then, as it appreciates, you simply pay off the old loan with a new one. Boom, tax-free income.”
Following suit, another Reddit user, Evening-Main-5860, also posted that he had been able to get 1 BTC after largely following a dollar cost averaging (DCA) strategy, in which he regularly bought small amounts. of BTC over a long period of time, stating:
“I was able to catch the falling knife and buy enough to cross the finish line. This was no easy feat. I’m just an ordinary guy with an ordinary life.”
Between June 15 and 25, the total number of Bitcoin wallet addresses holding more than 1 BTC increased by 873, according to data from Glassnode.
Although the fall in BTC prices is seen by many as an investment opportunity, Google search trends highlight the tendency of other investors to speculate on its fall.
Google searches for “bitcoin dead” hit all time highs over the weekend. pic.twitter.com/oDXNqGEeIL
— Alex Krüger (@krugermacro) June 20, 2022
Google searches for “the death of bitcoin” hit all-time highs over the weekend.
Google search results reflect heightened anxiety over cryptocurrency markets following weeks of relentless selloffs in asset prices.
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