Bitcoin (BTC) Whales Now Control 40% of Circulating Supply, Hodling More Than 1000 BTC
CryptoNewsTerminal Staff05 Jun, 2024
Bitcoin (BTC) Whales Now Control 40% of Circulating Supply, Hodling More Than 1000 BTC
Since March, Bitcoin (BTC) whales have been increasing their holdings. According to a recent report by IntoTheBlock, addresses holding more than 1000 BTC now control 40% of the circulating supply of BTC. This increase in whale holdings suggests that these large investors are bullish on the long-term prospects of Bitcoin. Whales are often seen as long-term investors who are not as likely to sell their holdings during short-term price fluctuations. The increase in whale holdings is also a sign of the growing maturity of the Bitcoin market. As the market becomes more established, it is attracting more institutional investors who are looking for long-term growth. The influx of institutional investors is a positive sign for the long-term health of the Bitcoin market. These investors bring with them a wealth of experience and knowledge, and they can help to legitimize the market in the eyes of mainstream investors.
