Surge in Bitcoin Accumulation as per Latest Analysis

Kelly Cromley

2 years ago

According to research by the Glassnode analytics organization, the count of Bitcoin wallet addresses that possess at least 10,000 Bitcoins has increased to 100. According to the prevailing exchange rate of Bitcoin versus the US Dollar, 10,000 BTC is equal to a value of about $215,000,000 USD.

Bitcoin miners were liquidating a significant amount of their BTC holdings for the past few weeks in an effort to achieve financial stability, pay off their debts, and meet any other financial obligations they may have.

📈 #Bitcoin $BTC Number of Addresses Holding 10k+ Coins just went above 100.

Current value: 100

View metric:https://t.co/iHq1NPfawI pic.twitter.com/elQPVeT2jS

— glassnode alerts (@glassnodealerts) June 25, 2022

During this same period, whales entered the market and aggressively purchased Bitcoin, as reflected by the rise in the count of wallets possessing 10 to 10,000 Bitcoins during the previous two weeks. Since February of 2022, the number of addresses holding 10,000 BTC or higher has grown sharply.