Could the “WholeCoiner Push” Create New Demand for BTC?

As we reported earlier this week, the number of Bitcoin addresses holding at least 1 BTC has surpassed 1 million, according to data from on-chain analytics firm Glassnode. This milestone was reached on May 18, 2023.

The increase in the number of wholecoiners (addresses holding at least 1 BTC) has been steadily accelerating since mid-2021. In 2022, the number of wholecoiners increased by 20%, from 814,000 to 978,000.

Adam Back, CEO and co-founder of Bitcoin firm Blockstream, has made a case for “hyperbitcoinization” soon to come. He argues that if the current trend of increasing wholecoiners continues, the price of Bitcoin will soon become unattainable for many people.

“10 million people trying to buy 1 BTC over a few years would push the price out of reach,” Back tweeted. “And many current hodlers are not selling.”

Back’s comments come as Bitcoin investors continue to accumulate the cryptocurrency. Existing investors have resisted the urge to sell through the recent bear market and subsequent price recovery. At the same time, an uptick in short-term holders, or speculators, in 2023 has got some excited about the birth of a new Bitcoin bull market.

Only time will tell if Back’s prediction of hyperbitcoinization will come true. However, the increasing number of wholecoiners is a bullish sign for the future of Bitcoin.

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

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What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

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The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

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What is the goal of this portfolio?

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.

This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.

To give an update on the position, each one listed in low to high relative risk:

SoV/money == BTC, DCR

Platforms == ETH, XTZ

Private Money == XMR / ZEC / ZEN

DeFi == MKR / SNX and stablecoins

It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

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