According to recent blockchain data, one of the largest crypto whales now owns nearly 112,000 BTC after buying 321 Bitcoins on the dip, but small wallets hold 14x more
Data provided by bitinfocharts shows that the third largest crypto whale has added another 321 Bitcoins to its BTC holdings.
The total balance of the BTC whale wallet (1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) is now a staggering 111,794.59 Bitcoins: $4.75 billion in fiat equivalent.
Whale buys $13.5 million in BTC on dip
Anonymous whale bought a massive BTC block at an average price of $41,673 and now holds nearly $5 billion worth of Bitcoin on its crypto address.
Further data from the BTC Analytics website shows that the amount of BTC currently held by the wallet (111,794.59 BTC) is 0.5939% of the total Bitcoin supply. The wallet saw 446 incoming and 54 outgoing transactions.
Besides, the portfolio holds $2,527,773,751 in unrealized earnings.
Small BTC holders own 13.9% of the Bitcoin supply
According to a recent tweet by popular on-chain data vendor Glassnode, the wallets of the smallest Bitcoin owners together have 14 times more than the aforementioned crypto whale. They continue to pile on the leading cryptocurrency when it suffers major price corrections.
Using data provided by crypto analyst Willy Wu, Glassnode tweeted that Bitcoin addresses with less than 10 BTC on balances have accumulated Bitcoin faster than before since “digital gold” was dumped from an all-time high at $64,863 mid-period. April.
At the moment, these small owners own roughly 14% of the bitcoin supply combined.
They now have a total of 13.9% of the offer. pic.twitter.com/Ap7X5FdE92
– glassnode (glassnode) September 22, 2021
Bitcoin Still High at $100,000 This Year: Bloomberg’s Top Strategist
Mike McGlone, chief commodity strategist at Bloomberg, recently stated that despite a massive correction caused by the financial troubles of China’s second largest housing maker, Evergrande Group, Bitcoin may still reach the $100,000 mark by the end of this year.
McGlone said he underestimated the number of investors (including institutions) who have moved their funds from the traditional safe haven, gold, to Bitcoin and Ethereum.
Since gold offers a potentially unlimited supply and Bitcoin can only exist in 21 million coins (more than 18 million have already been mined), Bitcoin continues to attract more and more investors who are used to betting on gold.
According to McGlone, this year, gold is down 7%, Bitcoin is up nearly 70%, and Ethereum is up nearly 400%.