Number of investors managing over 10K BTC has grown to max

by in Cryptocurrency News

Crypto whale

Large investors often referred to as "crypto whales", continue to actively buy bitcoins. Santiment analysts drew attention to the preservation of the trend for long-term storage of digital currency.

On Twitter, they presented data that suggests that the number of so-called "bitcoin whales" has reached its highest level in 2020.

Currently, 111 investors hold at least 10,000 BTC in their wallets. Taking into account the current bitcoin rate ($ 16,200), each of the "whales" controls the cryptocurrency for $162 million.

The number of addresses holding from 1,000 to 9,999 bitcoins is now 2,129 (six wallets below the 2020 record).

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The growth in the number of holders of at least 1000 BTC indicates that in the camp of large players the point of view dominates that the largest cryptocurrency will rise in price in the long term. More and more investors are beginning to view bitcoin as digital gold and an effective tool to protect capital from inflation.

Bitcoin this week again exceeded $ 16,000 in price and not only stayed at this level but also continued the upward movement dynamics.

Bloomberg analyst Mike McGlone recently tweeted that BTC is becoming less dependent on the stock market. This trend leads to an even greater strengthening of the fundamental positions of the cryptocurrency.

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The strategist believes that Bitcoin will be able to reach $ 20,000 by the end of this year.