Number of Bitcoin Whales With Over 1,000 BTC Hits 4-Year High
The number of entities with over 1,000 bitcoin – the so-called “whales” – has hit a four-year high with the recent price rally that helped the price of bitcoin move over the $13,000 mark. The population of whale entities is now at 1,939.
A whale entity is identified through clusters of addresses held by a single network participating holding at least 1,000 BTC. The number of whales in the space is now at the highest level it’s been since September 2016, after growing by 2.2% last week.
The rise comes shortly after PayPal announced support for BTC, ETH, LTC, and BCH, letting users buy, sell, and hold cryptoassets directly from their platform. The move helped cryptoasset prices rise as the news was seen as bullish.
Several top public companies have also recently disclosed bitcoin investments. These include Mode, MicroStrategy, and Square.
