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Bitcoin surpassed its all-time high this month and is trading above $20000 for the last few days. As the world’s strongest cryptocurrency breaks all the records and garners massive mainstream attention, the bitcoin holders are getting richer by the day.

The Block reported that more than 4500 Bitcoin wallets hold above $10 million worth of Bitcoin.

More than 4500 Bitcoin Wallets hold $10 M

As per the report, the number of bitcoin wallets having the Bitcoin in value above $1000 was more than 4.6 Million as of December 20th. Also, more than 271,000 wallets held balances in excess of $100,000.  Bitcoin is trading around $23,330, and Bitcoin investors are gaining massive profits from their investments. The Grayscale Bitcoin Trust shares reached a gigantic high as BTC rallied enormously on trade exchanges.

The GBTC shares outstanding were recorded over 600 million. Bitcoin has a limited supply of around 21 million coins, out of which 18.6 million have been mined. With the recent hype around the cryptocurrency, the experts are estimating that it can reach beyond $400,000 in the coming times. 

The Block crypto data charts show that the daily transaction on the Bitcoin Network has grown enormously over the last two years. Right now, As of December 21st, 2020, the daily transactions are recorded at 322.57 k; it was estimated at 180.3 K in January 2018. The Chart showcasing the bitcoin Addresses with Balance Over $X shows that the number has gone up to 4.57 Million while it was just 480.7 thousand on January 1st, 2017. The last highest figure was noted at 3.3 million in January 2018.

Huge institutional investments in BTC has further augmented its growth; Mass Mutual and MicroStrategy, Square, Grayscale are few high-value investors that have given a significant push to Bitcoin. It is worth noting that MicroStrategy bought another 29,646 bitcoin through the funds it raised through convertible notes it rolled out earlier in December 2020. Now the company has purchased more than $1 billion worth BTC  with 70,470 bitcoins in total.

As Bitcoin gains more popularity, the influx of more investments from mainstream firms and high net worth individuals is highly possible. The higher investments would play a pivotal role in giving mass appeal to Bitcoin and other digital assets. 

Disclaimer

The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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