Bitcoin Wallets With More Than $1K BTC Reaches New Record

The number of blockchain addresses holding at least $1,000 worth of Bitcoin BTC/USD has expanded to a record high of 8 million, according to data from Blockware Solutions and Glassnodes. This is equal to 0.028 BTC at the current price of $35,115.

Blockware believes that the number could rise significantly amid the monetization and optimism surrounding the longer run of the cryptocurrency market.

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“If there are 10s or 100s of millions of addresses that contain thousands of dollars’ worth of BTC, that’s a tremendous amount of purchasing power,” Blockware Solutions told CoinDesk.

Bitcoin strengthened as a major asset class among retail and institutional investors. It breached $35,000, and there’s growing optimism around the potential approval of Spot Bitcoin ETF.

Whales Accumulations: On Nov. 2, a large bitcoin investor transferred 7,000 bitcoins worth $244 million to crypto exchange, Bitfinex thereby realizing profits from the earlier purchases.

The holder collected 46,500 BTC bitcoins between November 2022 and January 2023 under $20,000 making it the 14th largest BTC owner globally. Leaving 10,000 tokens, the holder offloaded the tokens near the price of $30,000 in late March and early April.

Last month, on-chain data suggested that Bitcoin whales purchased more than 30,000 BTC valued at around $1 billion in mid-October.

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