Whales Are Buying Cryptocurrencies, the Number of BTC Addresses Holding More Than 1,000 Coins and the Number of Bitcoin Millionaires Has Increased This Year

The number of BTC addresses with more than a thousand coins has peaked at over 2,000 this month. This was noticed by one Twitter user

The number of BTC addresses with more than 1,000 coins has reached a new peak of over 2,000 this month, as noticed by one Twitter user in your entry.

Whales Are Buying

Last year saw a large increase in the BTC addresses belonging to so-called whales. We don’t know for sure who owns these addresses. They could be owned by institutional investors or exchanges. It’s safe to assume that the owners of the Bakkt platform have also been buying BTC this year, as it is the Basis for their futures contracts. Another large increase in buyers was seen in December 2018, when the price of BTC dropped to below $3,200.

Whales May Have Been Accumulating in 2018

This could also indicate that some of the larger exchanges are holding more of the digital asset.

Crypto Millionaires

Another chart, published by analyst Willy Woo, shows that the number of BTC millionaires is now just 12,000. To put this in perspective, there are “only” 36 million millionaires living in the world today – according to estimates. Just 12,000 of them are “Bitcoin millionaires.”

This number will likely grow with price and adoption. Bitcoin is still very immature as an asset class and technology.

Bitcoin Hash Rate at New Highs

The strength of the Bitcoin network is shown by the hash rate, which recently reached a new record high of 110.19 EH/s according to Bitinfocharts.com. This rate is a measure of the computing power and security of the network and has been steadily increasing over the past two years.

Just two months ago, the hash rate reached 80 EH/s and grew by 37% in such a short time. Last month, it exceeded 100 EH/s for the first time.

The price of BTC today is around USD 8,500, which translates into an increase of around 1 percent on a daily basis.

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