ā£Thisā¢ week, the number of Bitcoin held by addresses owning over 1,000 Bitcoin (BTC) reached a new yearly high, reaching 7.67 millionā¢ BTC. āThis ā¢is a significantā milestone forā¢ the cryptocurrency, as āit indicates that large holdersā of Bitcoin are continuing āto accumulate the digital asset.
Theā data was provided by Glassnode, a leading provider of on-chain data and ā£analytics for the ācryptocurrency industry. According to their analysis, theā¢ number āof Bitcoin held by addresses withā¢ more āthan 1,000 BTC has been steadily increasing since the beginning of the year. āThis is ā£a sign of ā¤strong demand for theā¢ digital asset, as large holdersā are ā¢likely to be moreā¢ confident in theā¤ long-term prospects of Bitcoin.
The increase in the number of āBitcoin held by large holders is also a signā of increased institutional interest in the cryptocurrency. Institutionalā¤ investors are āoften more likely to hold large amounts of Bitcoin, as they are more likely to haveā the resources to ā£do so. This is a positive sign for the cryptocurrency, as it indicates that ā£moreā institutionalā¢ investors are becoming comfortable withā the asset class.
Overall, the newā¤ yearly high in the number āof Bitcoin held by large holdersā£ is a positive sign for the cryptocurrency. It indicates that large holders are continuing to accumulate the digital asset, and that institutional investors are becoming more comfortable with the asset class. This is likely toā lead to further growth ā¤in the price of ā¤Bitcoin in the future.
NEW: š Bitcoin held by addresses owning over 1,000 $BTC hit a new yearly high this week, reaching 7.67 million Bitcoin š
