Bitcoin Just Hit Yet Another Milestone

GM Readers!📪 It's BitDegree Insider, and it's time to work on those Web3 abs.

⭐️Today's selection:

• 💰1 Million Bitcoin Adresses Holding 1 BTC
• 💸Venture Mondays
• 👌Selected Meme of The Day
• 📰Bite-Sized News

1 MILLION BITCOIN ADDRESSES HOLDING 1 BITCOIN

Remember the days when Bitcoin reached its all-time high and was out there, sitting confidently with a price tag of over $69K?

Those were the days...

Today, Bitcoin sells for over $27k, and the prince fluctuations that it goes through are not that dramatic as some people would want them to be.

Unless... You see this reduction in Bitcoin value as a prolonged discount period for those who want to accumulate the king of cryptocurrencies for a lower price.

Because that's exactly how many people see it.

And by many, I mean the fact, that on-chain analytics have recently recorded a beautiful fact.

The number of Bitcoin addresses holding at least 1 full Bitcoin has surpassed 1 million.

That's 1 million Bitcoin HODLers. That's more people than the combined populations of Iceland and The Bahamas.

Of course, it's important to note that this number does not necessarily represent 1 million individual 1 Bitcoin owners.

It's because there are many crypto traders and investors who posses multiple wallets, and Bitcoin addresses.

And, in addition to that, some of these "1 Bitcoin owners" are not individuals, but companies, financial institutions, investment firms, crypto exchanges, and so on.

But, nevertheless, 1 million addresses that have at least 1 whole Bitcoin in them, is a nice sentence to read, and a nice thing to ponder.

As you can tell, this is quite a milestone.

And this milestone serves as an accurate representation of crypto community's optimism and long-term planning.

Because, essentially, the worse things got in the crypto sphere, the more "wholecoiners" were coined.

Here's what I mean:

As the price of Bitcoin experienced a decline of over 65% in the previous year, there was a significant increase in the number of wallet addresses holding at least one, whole, undivided Bitcoin.

And, what's even more interesting, this surge was particularly noticeable in June, right after the whole Terra Luna bloodbath, and then again, right after the collapse of FTX.

During this period, approximately 190,000 new people joined the ranks of the so-called "wholecoiners."This relatively rapid increase can be seen in this graph by Glassnode:

As you can see, crypto people are the ones who plan ahead and don't give in to panic.

What concerns the overall Bitcoin situation, here are some other cool things to know.

Currently, there are around 19 million Bitcoin in circulation. New Bitcoin are being mined on daily basis, until this number will reach 21 million.

It's estimated that the last Bitcoin will be mined by the year 2140. So, not super soon.

What's a little bit more concerning is the fact that almost 2 million of Bitcoin that are currently in circulation, are held by corporate whales, such as Coinbase & Binance. 

This number translates to 2 major holders owning Bitcoin that's worth over $50 billion. Well... This does not sound very decentralized.

But, things might change. Especially if the number of wholecoiners continues increasing.

TL;DR: Bitcoin community celebrates hitting an important milestone. The number of 1 million Bitcoin addresses, holding at least 1 whole Bitcoin, has been reached, and already surpassed.

VENTURE MONDAYS

It's Monday, it's time to talk about those companies that managed to sell their vision to investors.

DeFi protocol Sm:)ee (SmiLee) raised $2M in a Seed funding round led by Dialectic, with participation from Synergis Capital, Concave Ventures, Owl Ventures, Yunt Capital, Dewhales Capital, Outlier Ventures, New Order, Multisig Ventures, GTS Ventures.

They present their vision like this: 'An open-source protocol enabling volatility-based products and strategies.'

And they achieve this by, once again, to quote the company: 'by modeling liquidity providers as options sellers, Smilee transforms Impermanent Loss (IL) into a portfolio of options to create any type of volatility-based payoff.'

NFT brand Pudgy Penguins raised $9M in a Seed funding round led by 1kx, with participation from Big Brain Holdings, Kronos Research, Old Fashion Research (OFR), CRIT Ventures.

Well, that's a lot of money. They might come up with something that would step their marketing game up big time.

They may even create a movie, or a cartoon that would be centered around their NFT creatures, the Pudgy Penguins. Who knows?

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Samsung Partners with South Korea's Central Bank to Study Offline CBDC Payments. It's not the first time Samsung goes exploring CBDC capabilities.
• Zimbabwe Ignores IMF Warning and Sells Its Gold-Backed Tokens. That's around 14 billion Zimbabwean dollars (approximately $39 million) worth of gold-backed digital tokens.
• Digital Asset Firm Bakkt Delists 35 Cryptocurrencies on Apex Crypto. Bakkt recently acquired Apex Crypto.