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WebsCrypto—News—Bitcoin News—Record Number of Bitcoin Addresses Holding 10+ BTC Reaches New Two-Year High
Bitcoin News

Record Number of Bitcoin Addresses Holding 10+ BTC Reaches New Two-Year High

By Simon LawsonJanuary 7, 2023
Record Number of Bitcoin Addresses Holding 10+ BTC Reaches New Two-Year High
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As the new year gets underway, bitcoin addresses holding more than 10 BTC have seen consistent growth, reaching a new two-year high. According to data from Glassnode Alerts, this investor cohort had previously declined as the price of bitcoin experienced numerous dips and crashes. However, optimism for the digital asset appears to have been restored in the latter half of 2022.

On December 30th, just one day before the end of the year, the number of addresses with 10+ BTC reached a two-year high of 155,283 after a significant jump. Just a week later, this number climbed even higher to a new two-year high of 155,286.

This trend is notable as it suggests that smaller bitcoin investors are looking to increase their holdings of the cryptocurrency. In the past, it has been larger investors and institutions that have largely driven the market. However, the growth in the number of addresses holding 10+ BTC could indicate a shift towards smaller investors wanting a bigger slice of the pie.

Bitcoin Market Fluctuates Between Accumulation and Dumping

While the number of bitcoin addresses holding 10+ BTC has consistently grown in the past few months, the market as a whole has fluctuated between accumulation and dumping. In late December, the price of bitcoin saw a significant drop before recovering in the new year.

This type of volatility is not uncommon in the world of cryptocurrency, and it highlights the risk involved in investing in digital assets. However, the overall trend for bitcoin has been positive in recent years, with the price reaching an all-time high in 2021.

Institutions and Large Investors Still Key Players in Bitcoin Market

Despite the growth in the number of smaller investors holding 10+ BTC, it’s important to note that institutions and larger investors are still major players in the bitcoin market. In recent years, we’ve seen an increasing number of institutions allocating a portion of their investment portfolios to cryptocurrencies.

These larger players have the resources and expertise to navigate the volatile market and can potentially provide stability in times of uncertainty. However, the growth in the number of smaller investors holding significant amounts of bitcoin is a positive development for the market as a whole and could lead to further mainstream adoption of the cryptocurrency.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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