Bitcoin Whales Stack Up: Addresses Holding 0.1+ BTC Hit Record High
CryptoNewsTerminal Staff12 Sep, 2024
Bitcoin Whales Stack Up: Addresses Holding 0.1+ BTC Hit Record High
The number of Bitcoin addresses holding more than 0.1 BTC has reached a record high, signaling continued accumulation by large investors. According to data from Bitcoin Magazine, the number of such addresses has surpassed previous peaks, indicating strong buying pressure. This trend suggests that whales, or entities holding significant amounts of Bitcoin, are accumulating the cryptocurrency in anticipation of future price appreciation. The bullish sentiment among whales is driven by factors such as the limited supply of Bitcoin and its increasing adoption as a store of value.
