The most significant cryptocurrency by market cap, Bitcoin (BTC), has caught the attention of crypto enthusiasts as whales amass BTC in the ever-volatile world of digital property. According to a recent tweet by the crypto analyst Ali, the current number of Bitcoin owners has surpassed the population of Spain (47.5 million), coming in at a startling 48.5 million.
Whales, or large Bitcoin traders, have been seen increasing their holdings despite the adverse trend of the currency. This shows that they have a positive outlook on the market. According to data provided by the cryptocurrency analytics firm IntoTheBlock, approximately $1.5 billion in new Bitcoin holdings were added in the last two weeks of August by Bitcoin traders who possess at least 0.1% of the total supply.
On September 3, IntoTheBlock updated their Twitter feed with information about the astounding whale activity, which allowed the total number of Bitcoin holders to surpass 48 million for the first time ever. Extra-amazing is how the cryptocurrency has grown since its two-month low, when it fell below $26,000, when its value plummeted.
The recent historic victory of Grayscale Investments over the SEC essentially drives the traders’ upbeat outlook for Bitcoin. Decide Neomi Rao claimed in court that the SEC had not provided enough justification for rejecting Grayscale’s application to convert Grayscale Bitcoin Belief (GBTC) into Bitcoin Spot ETFs.
At the time of publication, BTC had a minor increase of 0.40% and was worth $25,910.67. With a market valuation of $505,045,017,903 and a 24-hour trading volume of $8,393,256,034 for Bitcoin, it maintains its dominant position in the cryptocurrency industry.
