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Leading cryptocurrency analytics company Santiment has released a new report on Bitcoin (BTC). According to the data, there is an increase in the number of addresses and holders in Bitcoin. But what does this mean for the cryptocurrency markets?
Critical Report on BTC Holders!
According to Santiment reports, the number of Bitcoin addresses holding at least 100 BTC has recently reached nearly 16,000. These participants collectively hold 11.5 million BTC and have added nearly 28,000 BTC in the past 12 weeks.
Bitcoin sharks and long-term holders also showed increased interest in the leading cryptocurrency as its price crossed $30,000 in the first half of the year. Moreover, optimism was instilled in the industry after finance giants like BlackRock, Invesco, VanEck, and others applied to launch a spot BTC ETF in the United States.
Cryptocurrency market intelligence platform Santiment revealed that the number of Bitcoin addresses holding at least 100 BTC (equivalent to $2.9 million at current prices) has risen to 15,870.
These whales have bought 27,755 BTC in the past three months and currently hold 11.5 million BTC (worth $334 billion) or approximately 60% of the total circulating supply of the cryptocurrency. Additionally, BlackRock’s ambition to offer a spot BTC ETF in America has given more confidence to large Bitcoin investors who have purchased significant assets shortly after the filing.
Impact of BlackRock on Holders!
In the past month, BTC sharks and whales accumulated 71,000 BTC between mid-June (when the world’s largest asset manager applied to the SEC) and July 8.
The overall optimism among investors can be attributed to BlackRock’s exceptional track record with the U.S. securities regulator, having only one of its 576 ETFs rejected over the years.
Long-term holders (those who have been part of the ecosystem for at least the past 155 days) made significant purchases in the first half of 2023. Their holdings reached 14.52 million BTC, which recently hit an all-time high.
