This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The number of Bitcoin millionaires has seen a significant increase, rising by 237% from around 23,800 to nearly 82,000. This surge includes both individual investors and institutions such as crypto exchanges. Moreover, the number of “whole-coiners,” entities that hold at least 1 BTC, has surpassed 1 million. This rise in Bitcoin holders aligns with the overall accumulation trend, indicating that whales have been buying the cryptocurrency during its 120% price rally this year, reaching around $39,000. These investors are confident in Bitcoin’s continued bullish momentum. Furthermore, there has been a notable increase in long-term Bitcoin holders. Those who have held their assets without moving them for over three years now make up 40% of all holders, reaching an all-time high. These “HODLERS” demonstrate a steadfast commitment to their positions, signaling a long-term bullish outlook. However, newer long-term holders, who acquired Bitcoin during the bear market, have shown signs of unease. The movement of Bitcoins that have been untouched for at least 5 years has spiked, indicating a potential eagerness to liquidate their portfolios.Investors are accumulating more Bitcoin with a long-term perspective, anticipating future appreciation. The market’s recovery phases, along with expectations of regulatory advancements such as Bitcoin ETFs and speculations surrounding its upcoming halving, have motivated this increase in high-value Bitcoin holdings. Additionally, the Bitcoin supply on exchanges has decreased since July 2021, currently standing at 2.05 million BTC. This decline in exchange supply confirms the determination of wallet holders to HODL in anticipation of higher returns.