The number of large bitcoin holders returned to 2016 levels
The number of bitcoin whales or large investors capable of influencing the market by their actions has risen to a four-year high along with the recent rally in the exchange rate, according to data from Glassnode..
On Sunday, the number of address clusters controlled by one owner and containing at least 1,000 BTC reached 1,939, the highest since September 2016. Over the week, the indicator increased by 2.2%, while the price of bitcoin – by 14%. Since the beginning of the year, the “whale population” has grown by 13%.
According to analyst Willie Wu, the data suggests that large investors are increasingly looking at Bitcoin as a hedge against central bank inflationary policies. Recently, several public companies have announced the placement of part of their assets in bitcoin.
According to BitInfoCharts, Bitcoin addresses containing 1,000 BTC or more now account for 5.3 million BTC, or 42.62% of all coins in existence. Of these, presumably over 1 million BTC are in the wallets of the creator of Bitcoin Satoshi Nakamoto, who never moved them..
In addition, Glassnode data allows tracking patterns of “hodling” or the share of bitcoins that have not been used in transactions for a long time. So, according to the service, 62% of bitcoins remain in the wallets of their owners without movement for more than a year, and almost a third of existing coins have not changed addresses for three years.
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