{"id":424482,"date":"2020-05-19T21:00:40","date_gmt":"2020-05-19T21:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=424482"},"modified":"2024-06-11T13:48:58","modified_gmt":"2024-06-11T13:48:58","slug":"data-shows-retail-accumulating-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/data-shows-retail-accumulating-bitcoin\/","title":{"rendered":"Data Shows Retail Traders Are Heavily Accumulating Bitcoin"},"content":{"rendered":"
The global events seen throughout 2020 have largely altered Bitcoin\u2019s underlying market dynamic, causing the cryptocurrency to see a massive rise in institutional involvement.<\/p>\n
Many of these institutional investors have been moving to gain exposure to BTC via its CME futures, which has seen a massive rise in open interest throughout the past several days and weeks.<\/p>\n
It now appears that the cryptocurrency is also seeing a massive rise<\/a> in the number of smaller retail investors that have been accumulating in recent times.<\/p>\n This accumulation is emblematic of the fact that the number of BTC wallet addresses holding over 0.1 BTC has risen significantly over the past year.<\/p>\n Bitcoin<\/a> has been performing quite well despite the turbulence seen within the traditional markets.<\/p>\n Although smaller markets typically perform quite poorly during periods of widespread weakness, it does appear that BTC\u2019s positive performance has been emblematic of its growing position as a safe haven asset.<\/p>\n This narrative has been perpetuated by comments from legendary macro investor Paul Tudor Jones, who explained that the benchmark cryptocurrency reminds him of gold in the 1970s and that it will be the big winner of imminent inflation caused by widespread money printing.<\/p>\n Smaller investors have taken notice as well, as data shows that the number of wallets containing at least 0.1 BTC has been growing significantly in recent times.<\/p>\n Rafael Schultze-Kraft \u2013 the co-founder of blockchain research platform Glassnode \u2013 spoke about this trend in a recent tweet<\/a>, noting that there are now 14% more addresses with over 0.1 BTC than there was just one year ago.<\/p>\n \u201cThere are now more than 3 million Bitcoin addresses holding at least 0.1 BTC (current value: $975 USD). That’s 14% more addresses than one year ago today.<\/p><\/blockquote>\nBitcoin Sees Heightened Retail Accumulation<\/strong><\/h2>\n