BTC has reached a new record-high of $56,286 on Coinbase, although it has since pulled back to $55,304 at the time of writing, per data from CoinMarketCap.

New data by Glassnode reveals that the number of Bitcoin addresses with more than 0.1 BTC has also broken a record. The on-chain data provider noted:

“Number of Bitcoin addresses holding 0.1+ Coins just reached an ATH of 3,195,200.”

These statistics show that more participants are joining the Bitcoin network. For instance, with a projection of 1 billion people using BTC in the next four years, Dan Tapiero, the co-founder of fintech and digital asset firm 10T Holdings, believes that this trend will push Bitcoin’s price above $500,000, a prediction that has been given by crypto analyst Willy Woo.

Bitcoin’s value goes through the roof

Bitcoin has been edging closer to a market value of $1 trillion, but this target was finally realized after the leading cryptocurrency soared past the $55,000 mark. Its market capitalization currently stands at $1.03 trillion, according to CoinMarketCap.

With this milestone, Bitcoin is now more valued than leading corporate giants like Tencent and Tesla, with a market capitalization of $927.12 billion and $757.86 billion, respectively.

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