Yesterday Glassnode posted on Twitter a report that more than 16,159 Bitcoin wallets now hold more than 100 BTC. What will this mean?
Are we in a phase of accumulation of Bitcoin?
During the last few months we have witnessed a significant increase in the popularity of Bitcoin as a safe haven asset in the global economic context. Multiple large companies participating in the exchange have decided to invest in Bitcoin, including gold.
So the findings found by Glassnode are not isolated from what we have been observing in the crypto market.
So, yes, there are now more than 16,159 Bitcoin wallets with more than 100 BTC; for a maximum of 6 months given that on June 8 there were 16,158.
Another interesting tidbit from the Glassnode report is that the number of non-zero Bitcoin addresses hit an all-time high of 31,913,355 on October 19. But, even more curious, approximately 5,000 of these addresses were registered in the last 24 hours.
Accelerated wallet creation
Since the first weeks of October, the crypto community has been observing rapid Bitcoin wallet creation on a daily basis.
In fact, Garner determined that around 22,000 Bitcoin addresses had appeared in a single day; This figure is staggering given that it was found above the daily average of 5,000 to 10,000.
It is remarkable and evident that the popularity of Bitcoin has increased significantly. But not because now more people necessarily know about it but because now more investors trust Bitcoin.
Let us remember that the foundations of the leading crypto are found in the trust it arouses in its crypto investors; consequently, as more investors rely on it, Bitcoin reaches an important and necessary stage of maturity.
Optimism in the crypto market
Not only do investors trust that Bitcoin is a safe asset against inflation; rather, they also expect their price to appreciate in the coming months or years.
Just yesterday we reported in CryptoTrend that Anthony Pompliano would have confessed to having 80% of his assets deposited in Bitcoin. And, as if that weren’t enough, he projects that BTC will be worth $ 225,000 by the end of 2021.
Will it happen? Will we see an increase in the number of Bitcoin addresses with more than 100 BTC from now on? I think it will be so.