According to the data of ‘Whale Alert’, the bot that transmits whale movements on Twitter, it is seen that significant amounts of Bitcoin transfers have been made in the last 24 hours. The last significant transfer was made from the Xapo wallet to an unknown wallet, and it was reported that exactly 45,671 Bitcoins (about $ 602 million) were transferred.
New Record in the Number of BTC Addresses Exceeding $ 1000
The data released by Glassnode could be the result of institutional investors taking over Bitcoin. The number of Bitcoin addresses in excess of $ 1,000 reached an all-time high. Recent data show that 2,231 Bitcoin addresses fit into this category.
Yesterday, the total number of Bitcoin addresses holding more than $ 1,000 saw the number 2,231. The previous record was set just a few days ago, on October 23rd, when the sum of Bitcoin addresses, holding more than $ 1,000, reached 2,229. Current figures point to a short-term increase in numbers, where the total number of relevant Bitcoin addresses jumped from 2,178 on 20 October.
Why Has the Number of Addresses Increased?
According to researcher Elias Strehle at the Blockchain Research Lab, there could be more than one explanation for the increasing number of Bitcoin addresses holding $ 1,000 or more.
“If we see higher wealth individuals seek safe havens against fiat currencies across the globe, it wouldn’t be a surprise if we see this trend actually increase over time.”
High-Earning Individuals and Institutional Investors
The tendency of institutional investors to take a closer look at Bitcoin, as well as individual high-earning investors, has gained momentum in recent months.
MicroStrategy announced a $ 250 million Bitcoin investment in August this year, followed by another $ 183 million a month later. This month MicroStrategy was followed by Square, which invested $ 50 million in Bitcoin.