You have permission to edit this article.

The Number Of Large Bitcoin Holders Spiked During The Recent Bull Run

Content provided by Media Monthly.
The Number Of Large Bitcoin Holders Spiked During The Recent Bull Run

Bitcoin holders have accumulated around 8 million Bitcoin on the recent bull run and seem unlikely to trade them at the moment. The number of large Bitcoin holders spiked after the BTC price rose a couple of days ago. On October 20 this year, over 2,000 Bitcoin addresses held over 1000 Bitcoin. Still, on October 25, the figure grew to over 2,200. The current market value for one Bitcoin is at $13,463.

Regarding Bitcoincharts information, whale addresses account for around 42 percent of the entire BTC, translating to over 7.9 million BTC. Even if the number of large holders addresses is public, respective owners and agencies that manage them are unknown. Additionally, a sole agency may manage several addresses, or similarly, an exclusive address may be handled by various players using a multi-signature wallet.

Views on the largest Bitcoin holder

Experts claim Satoshi Nakamoto, the initial miner and founder of Bitcoin, nearly holds 1.1 billion Bitcoin. However, this massive bulk of the digital assets reputed to be owned by Satoshi have always remained unspent.

Over the previous period, the holding trend, which comprises the entire Bitcoin fund percentage held for some time now, strongly peaked. Sixty-two percent of the funds are yet to be moved over a year now, and one third remains stored in the same addresses over the last three years.

Despite Bitcoin spiking the last few days compared to 2018, when it hit the $20,000 mark, large Bitcoin holders remain reluctant to dispose of their digital assets.

The growing number of large Bitcoin holders

The recent rise of large Bitcoin holders implies most investors are confident Bitcoin value will significantly increase over the coming years. Regarding a tweet by Willy Woo, a Bitcoin expert, over 23 million traders are currently holding Bitcoins.

According to data on blockchain analysis, the number of large Bitcoin holders controlling 1 000 to 10,000 Bitcoin is growing vastly. The number of addresses holding 1,000 to 10,000 Bitcoin reached over 1,700 on February 20 last year.

Moreover, users holding 100 to 1,000 Bitcoin fell slightly, and notably, traders controlling 100,000 to 1,000,000 Bitcoin decreased to 1 address.

Bitinfocharts prime affluent Bitcoin addresses further indicate, nearly six trades hold cold wallets listed among the best addresses.

Huobi controls the largest proportion with more than 200,000 Bitcoin held in a sole address. Moreso, it's cold wallets enjoy the best position among the richest. Huobi constitutes 1.1 percent of the trading Bitcoins and is listed among other trade wallets, for instance, Binance, Coinbase, Bittrex, and Bitfinex.

According to information rooting since May this year, just 2000 addresses hold 100,000 to 1,000,000 Bitcoin, implying that 123 new holders have been listed.

Bitcoin value gained progressively in October, with most users observing the bulk of the digital asset held by whales. Luke Martin, a host for the Venture Coinist podcast, observed the whales pattern in October early days. Martin later tweeted that the big list of Bitcoin holders is a promising sign for the bull markets and Bitcoin value. Start buying and selling bitcoin today by joining and enjoy automated trades powered by artificial intelligence.