Large Bitcoin holders have increased their balances to a total of 4.29 million BTC
According to Santiment, owners of wallets holding from 10 to 100 Bitcoin have been actively acquiring the leading digital currency in the past month.
52,000 BTC Bought by Bitcoin Sharks Over Past Month
Santiment analytics team has tweeted that in the past five weeks, an astounding amount of Bitcoins – 52,000 – has been added by the above-mentioned crypto wallets. This sum in BTC is now evaluated at $1,124,619,600 at the present BTC/USD exchange rate. The acquisitions were made while Bitcoin was trading at a great discount of roughly 27% from its previous highs.
Thanks to these purchases, the overall amount of the flagship cryptocurrency held by these BTC sharks has increased to a mind-blowing 4.29 million coins.
🦈 #Bitcoin addresses holding between 10 to 100 $BTC have been stacking #Satoshis on this dip, and have collectively upped their holdings to 4.29M $BTC. In the past 5 weeks, as prices have retraced -27%, they have added 52K more coins to their wallets. https://t.co/lgKK1iP8Pr pic.twitter.com/FqIH57BGnb
— Santiment (@santimentfeed) July 9, 2022
On July 7, a report came out showing a decrease in the number of jobless claims, which pushed Bitcoin around 7% up, along with the rest of crypto and the stock market as well. The king crypto went up from the $20,500 zone, rising above the $21,100 level. As of this writing, BTC is changing hands at $21,560, according to CoinMarketCap.
CEO of the business intelligence software giant, Michael Saylor, a prominent Bitcoin investor and evangelist, has taken to Twitter to remind us that since his company started its Bitcoin journey back in August 2020, the digital asset has shown a rise of 83% and the company’s stocks gone up nearly 80%.
Emphasizing the advantages of Bitcoin against traditional stock markets, Saylor tweeted that while BTC rose 83%, S&P only went up 16% and Nasdaq 100 increased by 6%. In the meantime, the main rival of Bitcoin as a store of value, gold, has dropped 14% in total and silver went down 33%.
Performance since that time of BTC is +83%, $MSTR is +79%, S&P is +16%, Nasdaq is +6%, Gold is -14%, Bonds is -16%, and Silver is -33%.
— Michael Saylor⚡️ (@saylor) July 8, 2022
Before, MicroStrategy continued its Bitcoin investment, laying its hands on another 480 BTC. The company paid approximately $10 million for this amount of crypto and now it is holding a total of 129,699 BTC worth almost $4 billion.
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