Wealthy investors are quickly accumulating Bitcoin

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The Bitcoin rich list set a new record. Recently, the number of wallets holding at least 1000 BTC surpassed the old record.

The list of Bitcoin riches has reached a record high recently. According to the cryptocurrency data platform Glassnode, more than 2,000 addresses now hold over 1,000 Bitcoins. This shows that there is an increasing demand from institutional and wealthy investors.

As of today, 2 thousand 190 addresses hold at least 1000 BTC. The previous record was recorded on September 28, 2019, and 2 thousand 184 addresses had at least 1000 BTC that day. On the other hand, the total amount of Bitcoin these addresses hold is approximately 7 million 900 thousand within the minutes of the news. At current prices, this amount is worth $ 91 billion.

After the weakening of the dollar and the coronavirus epidemic shocked the economies, more investors are interested in Bitcoin and other cryptocurrencies as alternative investment tools to traditional markets.

Speaking to Reuters recently, Sanders Morris Harris’ CEO George Ball said that many wealthy investors or traders are turning to Bitcoin. Ball predicts that Bitcoin and other cryptocurrencies will soon become very popular as a safe haven asset.

Recently, interesting outlets have been coming from traditional financial circles regarding Bitcoin. Recently, MicroStrategy’s CEO stated that he sees Bitcoin as a more secure asset against the weakening dollar. MicroStrategy also announced that it has purchased $ 250 million worth of Bitcoin. Yesterday, Canadian software company Snappa announced that they have converted about half of their cash reserves to Bitcoin.

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