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Richest getting richer: 2019 Report shows a tremendous growth in addresses with more than 1000 BTC.

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Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

Glassnode reports a significant rise in Bitcoin as an investment asset. Wallets holding above 1,000 BTC have ascended in numbers. Unlike the earlier times when bitcoin was held due to mining, and only by cryptographic enthusiasts, today, BTC is possessed as a profitable investment. The crypto coin is advancing as more promising with the growth of above 200% since 2018 and shows transactions worth $1 billion per day.

A recent analysis by Glassnode unveils the growth of high net worth bitcoin addresses. Wallets with more than 1,000 BTC have reportedly been rising, signifying the adoption of the cryptocurrency for the sake of investment. When compared, earlier bitcoin was possessed due to mining and was limited to only the cryptographic patrons.

The virtual coin supports daily transactions worth $1 billion. Moreover, with the introduction of mainstream futures markets and increasing crypto-to-crypto trading, BTC remains to foresee a bullish future despite its short-term shakedowns. The crypto whales also portray a significant amount of wealth, with around 6.7% held on trade networks.

The top wallets also stock an excellent amount of bitcoins. The wealth collection of above 1,000 BTC is worth now more than $8.3 million. The demand for BTC has also ascended in 2019. It is becoming m more promising with growth above 200% since the beginning of last year.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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