Bitcoin’s Purchasing Power and Record Number of Wallets Holding More Than $1K BTC
The number of blockchain addresses holding at least $1,000 worth of Bitcoin (BTC/USD) has reached a record high of 8 million, according to data from Blockware Solutions and Glassnodes. This is equivalent to 0.028 BTC at the current price of $35,115.
Blockware believes that this number could continue to rise as Bitcoin is monetized and optimism in the cryptocurrency market grows.
Bitcoin has become a major asset class among retail and institutional investors, breaching $35,000. There is also growing optimism around the potential approval of a Spot Bitcoin ETF.
On November 2, a large Bitcoin investor transferred 7,000 bitcoins worth $244 million to the crypto exchange Bitfinex, realizing profits from earlier purchases. The holder had accumulated 46,500 bitcoins between November 2022 and January 2023 when the price was under $20,000. They sold off 10,000 tokens near the price of $30,000 in late March and early April.
Benzinga’s Future Of Digital Assets Event in New York on November 14 will provide insights into Bitcoin wallets and their holdings. The event will showcase the latest trends, innovations, and challenges in the digital asset realm.
Last month, on-chain data suggested that Bitcoin whales purchased over 30,000 BTC valued at around $1 billion in mid-October.
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