Number of addresses with over 1 Bitcoin hits all-time high amid volatile market #togrp7

As Bitcoin (BTC) attempts to put aside the lows of 2022, new data indicates that investors appear to be accumulating more of the asset as highlighted by the number of addresses holding over one BTC. In particular, as of August 10, the number of Bitcoin addresses with over 1 BTC surged to an all-time high of 894,303, data by cryptocurrency analytic platform Glassnode indicates.

It is worth noting that Bitcoin is relatively expensive for most investors to acquire as a whole and the recent market crash appears to have presented an opportunity to buy the asset. Notably, since Bitcoin’s all-time high of almost $68,000 in November 2021, the asset has corrected by over 65%, presenting a buying opportunity. Furthermore, the data might also point to a whale activity where high net-worth individuals are buying amid the market correction.#togrp7

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