Is HODL really the way to become rich? The reason why the number of Bitcoin millionaires has exceeded 20,000

HODL is a term that represents the investment philosophy of the Bitcoin community: “Hold On for Dear Life.” Many investors wonder whether this is truly the way to become wealthy. The number of Bitcoin millionaires has increased rapidly over the past few years, providing evidence of how many people have benefited from the HODL strategy.

Since Bitcoin’s inception, its price has risen from less than 1 cent to a current value of $87,480( as of January 2026), multiplying several times. It is undeniable that long-term holders have accumulated substantial wealth in this process. However, understanding exactly how many people have hit the jackpot and how many Bitcoin millionaires there really are is more complex than it seems.

The True Meaning of HODL and Its Significance

HODL originated from a post made by a Bitcoin community user on a forum in 2013. He wrote “I AM HODLING” amidst market volatility, and it later became a motto for the Bitcoin community. While HODL simply means “don’t sell Bitcoin and hold it long-term,” it actually embodies an investment philosophy that ignores short-term market fluctuations and believes in long-term value appreciation.

This strategy has been profitable because Bitcoin’s supply is fixed and adoption has steadily increased. The fact that early investors following the HODL philosophy now hold enormous wealth proves this.

How Is the Bitcoin Millionaire Threshold Defined?

Because Bitcoin operates on a fully transparent blockchain, determining the number of Bitcoin millionaires is relatively straightforward. It involves counting the number of wallet addresses holding over one million dollars’ worth of BTC.

With the current BTC price at $87,480, any wallet address holding approximately 11.4 BTC or more can technically be considered a Bitcoin millionaire. Compared to 2020, when about 56.9 BTC was needed, the barrier to entry has become much lower.

However, it’s important to note that a single Bitcoin wallet address does not necessarily represent one individual. Exchanges’ cold wallets, multi-signature wallets, deterministic wallets, and other types of wallets manage assets for multiple users. Additionally, some Bitcoin holders distribute their assets across multiple wallets. Therefore, the simple equation “number of wallet addresses = number of millionaires” may overestimate the actual count.

Nonetheless, based on data from BitInfoCharts, there are 25,031 wallet addresses holding over one million dollars’ worth of BTC. This suggests that there are likely over 20,000 Bitcoin millionaires.

Over 20,000 Bitcoin Millionaire Addresses

Currently, addresses holding over one million dollars’ worth of Bitcoin vary greatly in size.

Of particular interest is the so-called “Bitcoin Billionaire Club.” Addresses holding over $10 million worth of BTC number around 360, with about 1 in 74 of these addresses owning over $10 million. More extremely, there are over 300 addresses holding over $100 million worth of BTC.

The Market Dominated by a Tiny Elite of Ultra-Rich

The concentration of wealth in Bitcoin reveals interesting patterns. Currently, there are only 11 addresses qualifying as Bitcoin billionaires. The largest holder owns 141,452 BTC, worth approximately $12 billion at current prices. This address is known to be a cold wallet of the Huobi exchange.

Additionally, about 214,000 addresses hold over $100,000 worth of BTC, and 1,140,331 addresses hold over $10,000. These figures clearly show that Bitcoin wealth is highly concentrated among the top tiers.

Volatility, Risks, and Opportunities of the HODL Strategy in a Fluctuating Market

Market volatility directly impacts the number of Bitcoin millionaires. The average daily volatility over the past 60 days is about 3%, indicating that the market can experience significant price swings within a single day.

This high volatility presents both challenges and opportunities for HODL investors. From a long-term perspective, the limited supply of Bitcoin and increasing adoption suggest a continued upward price trend. The rise from $17,557 in 2020 to $87,480 now demonstrates that early investors who consistently followed the HODL strategy likely achieved substantial profits.

In conclusion, HODL is an investment philosophy based on the belief that Bitcoin will appreciate in value over the long term. The growth in Bitcoin millionaires is evidence that this strategy can indeed generate wealth. However, given the high volatility and market uncertainties, relying solely on HODL is insufficient; investors should develop comprehensive strategies considering their risk tolerance and market conditions.