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Home / Business / (GBTC), (ETHE)-Why the Bitcoin “whale” is not ready to cash out even at the highest point in history

(GBTC), (ETHE)-Why the Bitcoin “whale” is not ready to cash out even at the highest point in history



CoinDesk reported on Thursday that Bitcoin (BTC) addresses containing more than 1,000 BTC are valued at $38.41 million at press time and are currently at a record high of 2,334.

what happened: According to CoinDesk data, since December, “whale” accounts or accounts holding large amounts of BTC have grown by 3.7%, when the number was 2,221.

Compared to the previous bull market in 2017, large accounts have grown by 30%.

According to BitInfoCharts, at least 6,633 addresses hold more than $10 million in BTC.

On Wednesday, the total market value of cryptocurrencies exceeded the $1 trillion mark, and the market value of BTC alone reached $685.76 billion.

CoinDesk Research’s quarterly review report pointed out that the decline in Bitcoin seen at the end of December triggered a “little interest” in profit taking among some large holders.

Why it matters: Bitcoin hit an all-time high of $40,1

80.37 on Thursday, and has rebounded by 32.35% since the beginning of the new year.

When asked about the whereabouts of Bitcoin during the CNBC halftime show on Thursday, Chamath Palihapitiya was Virgin Galactic Holdings (New York Stock Exchange: SPCE) said, “It may first rise to one hundred, then 150, then 200,000.”

“I don’t know in which period five years or ten years, but that’s past. The reason is because every time you see all these things happen, it just reminds you that our leaders are not as trustworthy and trustworthy as they used to be. Be a reliable billionaire investor.

Palihapitiya described Apex cryptocurrency as “insurance” and stated that it allows people to use “irrelevant hedging and will eventually transition to something more important.”

The “King of SPAC” started investing in Bitcoin in 2012 and has since sold all his personal Bitcoin instead of choosing to invest through a company that owns cryptocurrencies.

See also: MicroStrategy now holds 70,470 Bitcoins after spending $1.1B in 2020

Price action: As of press time, the bitcoin transaction price rose 2.84% to $38,338.34. On Thursday, Grayscale Bitcoin Trust (OTC: GBTC) closed up 2.37% to $44.97, and Grayscale Ethereum Trust (OTC: ETHE) closed down 1.18% to $14.61.

©2021 Benzinga.com. Benzinga does not provide investment advice. all rights reserved.


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