Fidelity executive: Number of Bitcoin wallets unchanged over the past year

Jurrien Timmer, director of global macro at U.S. asset management firm Fidelity Investments, outlined on X that the number of Bitcoin addresses and wallets has barely increased over the past year. Timmer suggested that this is because large buyers, such as Bitcoin treasury firm Strategy (MSTR), and exchange-traded fund (ETF) issuers, don't need more than a few wallets. Bitcoin exhibits a cycle similar to the S-Curve model, Timmer claimed, meaning that the value increases as the number of network participants increases. However, the Fidelity executive has identified that it will become increasingly difficult to track Bitcoin via the S-Curve model in the future.