Medium and Large Investors Hold 13 Million Bitcoins
An increasing interest from institutional investors in the digital asset market has been observed after BlackRock put in an application to launch a Bitcoin-ETF Exchange-Traded Fund.
CryptoQuant analysts have recorded an increase in the number of the largest Bitcoin holders, or the so-called humpback whales.
These whales hold from 10 to 10,000 BTC and have accumulated 67% of the total cryptocurrency supply, according to Santiment’s data.
Over the past seven weeks, these wallets have purchased more than 154,500 coins, and their total reserves have reached 13 million BTC.
In addition, the whales prefer to store their coins offline, taking them from exchange wallets since the end of 2022. Small investors are also actively buying cryptocurrency.
“Bitcoin shrimp” with less than 1 BTC, on average, buy about 33,800 BTC every month, according to Glassnode’s data.
