Bitcoin whales, or holders of large amounts of Bitcoin, can easily move its price by selling even a portion of their holdings. The number of these investors has increased since the beginning of the year.
According to data presented by AugustaFreePress.com, the number of unique addresses holding more than 10,000 BTC stood at 102 last week, up from 90 ten months ago.
The Number of Investors Holding more than 10,000 BTC Up by 13% YTD
During the Bitcoin run-up, institutions and whales were able to buy dips and often sell when prices went up, leaving most investors scrambling to chase the rally.
According to data from the crypto analytics platform, Glassnode, there were 102 unique addresses with a balance equal to or more than 10,000 BTC in January last year. By the end of 2021, the number of these big players slipped to 90. However, after Bitcoin`s price dip in May, it started rising again. Statistics show there were 102 addresses with at least 10,000 BTC in their balance as of last week, a 13% increase year-to-date.
On the other hand, the number of investors holding more than 1,000 BTC slipped by 7% in ten months, falling from 2,287 to 2,119.
The Number of BTC Shrimps, Crabs, and Octopuses is Also Rising
According to Glassnode data, the number of shrimps, crabs, and octopuses, or Bitcoin holders owing from less than 1 to 50 BTC, has also increased this year.
Last week, the number of unique addresses with at least 0.1 BTC in their balance hit an all-time high of 3.84 million, up from 3.29 million in January. The number of investors holding more than 1 BTC rose by 11% in ten months, rising from 814,500 to 907,500.
Statistics show there were close to 150,850 unique addresses with more than 10 BTC in their balance, up from 147,400 at the beginning of 2022. Overall, the Bitcoin network gained 3.1 million addresses with a balance greater than zero year-to-date, rising from 39.6 million in January to 42.7 million last week.
HedgeThink.com is the fund industry’s leading news, research and analysis source for individual and institutional accredited investors and professionals