A report from data analysis platform, BitInfoCharts has claimed that about one million Bitcoin address across the globe holds at least $10,000 in Bitcoin.
This new data is coming off the back of the recent bull run that took over the flagship cryptocurrency. Presently, BitInfoCharts puts the exact figure of the wallets that holds $10,000 and above in Bitcoin at 1,095,150.
It should be noted that this report was based majorly on the number of Bitcoin addresses and not the individuals in charge of the wallets. This means that a person can decide to have multiple Bitcoin wallets where he holds at least $10,000 worth of Bitcoin.
Major high-value Bitcoin owners spread their funds among exchanges
According to another recent data, people who hold Bitcoin in large quantities always spread their funds around. They sign up and own Bitcoin wallets on different exchanges, which backs up an increase in the number of Bitcoin addresses across the globe in short time frames.
Nevertheless, it is good news on Bitcoins’ part as the bull has taken charge of the leading crypto, pushing it into new price regions in the space of months. As of the beginning of last month, Bitcoin traded around the $10,000 mark but has witnessed a price increase of about 46% since then to sell at $15,630.
Another thing to note is that the report only talked about the Bitcoin addresses that hold only $10,000 and above. However, it did not consider the number of wallets that are containing amounts lower than that.
This report summary shows that a vast number of Bitcoin wallets around the globe hold at least 0.0001 Bitcoin. BitInfoCharts puts this figure around 16 million or at least 48% of the total Bitcoin address across the globe.
Institutional investors are accumulating large volumes of Bitcoin
The report also claimed that about 8 million Bitcoin wallets, about 25% of the total Bitcoin wallet addresses, hold at least 0.001 to 0.01 Bitcoin. However, it should be noted that this the period that many individuals will be flocking over to get a share of the profits that the leading crypto is amassing.
A known fact is that the smallest population, yet the ones with the largest values in the Bitcoin markets, are the institutional investors. Notably, Grayscale investments have picked up pace in the markets as it has accumulated about 40,000 Bitcoin, which is currently worth around $600 million.
Bitcoin has been surprisingly performing well in the crypto market in recent weeks amid the US general elections. Even though the digital asset witnessed what looked like a price correction in the last few days, it has wowed investors and traders alike as the bulls have broken the upward resistance to set it on course for yet another big rise.
With the US elections coming to a close, it is only a matter of time before we know Bitcoin’s response to whoever emerges the winner.
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