1 million Bitcoin wallets now have a balance of 1 BTC or more, but the real magic is yet to come, says Adam Back, CEO and co-founder of Bitcoin firm Blockstream, making a case for “hyperbitcoinization” soon to come.

"because 10mil people trying to buy 1 BTC over a few years would push the price out of reach. And many current hodlers are not selling. Eg very few of the recent whole coiners would re-sell, probably moving up to their next target for extra bitcoin, most are trying to buy more!"

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