Glassnode: The number of wallets in which more than 1 BTC is stored hits a new record
According to research firm Glassnode, the number of Bitcoin wallets with more than 1 BTC has hit a new high of 824,193.
Analysts point out that this number has grown steadily since the creation of the first cryptocurrency. Even BTC's $ 3,500 growth in just one month hasn't sold crypto owners. on the contrary, the number of investors in Bitcoin is increasing.
Note that in the context of the US presidential election, the rate of the first cryptocurrency continued to rise, setting a new record for 2020 of around $ 14,300.
A similar situation can be observed in the Ethereum network. The number of wallets with more than 100 ETH reached 53,019. The previous record was set in mid-July: 52,943 portfolios.
Glassnode recently reported that the number of addresses storing more than 100 BTC has risen to 16,159, a six-month high.
Glassnode recently reported that the number of addresses storing more than 100 BTC has risen to 16,159, a six-month high.
Institutionalists have started treating Bitcoin like gold
Grayscale Investments Bitcoin Trust is outperforming gold-based exchange-traded funds (ETFs) in terms of inflows thanks to growing institutional investor demand. This emerges from the report of the analysts of the financial holding JPMorgan.
“Previously, we identified Bitcoin's significant potential for long-term growth when it competes more strongly with gold as an 'alternative' currency. The market capitalization of the first cryptocurrency needs to be multiplied by ten to match the private sector's investment in gold through ETFs or gold bars and coins, ”JPMorgan said.
“Previously, we identified Bitcoin's significant potential for long-term growth when it competes more strongly with gold as an 'alternative' currency. The market capitalization of the first cryptocurrency needs to be multiplied by ten to match the private sector's investment in gold through ETFs or gold bars and coins, ”JPMorgan said.