Crypto News– More individuals than ever hold Bitcoin, with each holding amounts smaller than a shrimp individually but collectively resembling that of whales.
Bitcoin Wallets with Minimum 1K Dollars Balance Show Upward Momentum
In a report published on Monday, Fidelity Digital Assets highlighted the increasing number of Bitcoin addresses containing at least $1,000 worth of BTC, describing it as a positive trend of growth.
According to the analysts, this group reached a record high of 10.6 million wallets in mid-March, marking a 100% surge from 5.3 million Bitcoin addresses in 2023.
The analysts noted, This trend may signify a broader distribution of Bitcoin and its acceptance among the ‘average’ individual, adding that the metric indicates “the growth of small addresses accumulating and holding onto Bitcoin, despite the upward trajectory of prices.
However, Fidelity cautioned that the metric is not 100% accurate due to Bitcoin’s price appreciation and address consolidation during the period. As of the time of writing, $1,000 can purchase approximately 0.016 Bitcoin, according to CoinGecko.
Within cryptocurrency circles, a marine hierarchy is often employed to categorize Bitcoin holders: a whale is an address holding at least 1,000 Bitcoin, while a shrimp at the opposite end of the spectrum holds at least one Bitcoin. Based on this analogy, individuals owning between zero and one Bitcoin could be likened to plankton.
Fidelity’s analysts presented a generally positive short-term outlook for Bitcoin, backed by numerous long-term data points. Out of the 16 metrics tracked for Bitcoin, a quarter of them were categorized as negative or “neutral” conditions, while half of them were deemed positive.
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