Bitcoin Wallets with 1,000+ BTC Hits 9-Month High

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Leading currency Bitcoin has experienced an increase in the number of wallets that have 1000 BTC contain in them. This information was revealed by analytics data firm Glassnode which published a chart on Twitter showing the increase in the number of BTC wallets with over 1000 BTC.

According to the data the number of BTC owners with 1000 BTC had spiked to a nine-month high of 2170. 1,000 BTC is equal to a staggering $9,584,670.

Number of Bitcoin whales growing?

Bitcoin popularity has continued to increase in recent years and the COVID-19 pandemic has done little to reduce the enthusiasm. The recent stability of the coin could also have contributed to this figure as more people are able to buy Bitcoin within a defined range.

The recent growth from its previous record of 2,168 wallets occurred within a day which suggests that two more investors got themselves more BTC and became Bitcoin whales. Or it could mean that existing holders decided to split their holdings between different wallet addresses.

This latest spike in number of wallets with 1000 BTC was last seen on the 30th of  September 2019 when according to the charts there were 2,180 wallets with 1000 BTC.

• How to get a free Bitcoin wallet?

BTC active supply amount plunges to 13-month low

The financial firm also dropped by another chart that showed a drop in the Bitcoin supply which hit a new 13 month low. At the moment the total supply is 1,957,244.982 BTC.

This data depicts that investors had been holding their BTC stash ahead of the halving that occurred in May and were expecting the leading coin to rally. However Bitcoin has failed to rally significantly since its halving.

The data shows that over the past year, investors have not moved their BTC but are hodling, waiting for the Bitcoin supply cut on May 11 and expecting Bitcoin to rally after that.