Main navigation

Bitcoin Surge Above $20,000 Has Turned Early BTC Miners into Millionaires: Glassnode

News
Thu, 12/17/2020 - 10:12
article image
Yuri Molchan
As Bitcoin surpassed $20,000, the amount of BTC wallets holding at least $1 million in BTC went parabolic; meanwhile, Binance celebrates a major anniversary of success
Bitcoin Surge Above $20,000 Has Turned Early BTC Miners into Millionaires: Glassnode
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

Glassnode analytics agency has shared a chart showing that the number of Bitcoin whales has skyrocketed as the flagship cryptocurrency broke through $20,000 first and then suddenly reached over the $22,000 peak.

The next barrier it took fast was $23,000.

Meanwhile, it has been exactly three years since Binance became the largest crypto exchange by daily trading volume.

"Number of BTC wallets with $1 million surges 150 percent"

Glassnode has reported that, after Bitcoin surpassed the $22,000 mark for the first time in the history of crypto, the number of wallets holding at least $1 million worth of Bitcoin has seen a major jump upward.

It spiked by a whopping 150 percent and is now equal to 66,540 Bitcoin addresses. The analytics team at Glassnode specifies that the Bitcoin surge has turned all early Bitcoin miners into millionaires, judging by this data.

BTC
Image via Twitter

More big institutions are entering Bitcoin

Apart from the recent maneuver made by MicroStrategy as it raised a whopping $650 million from its shareholders to expand its Bitcoin holdings, other major companies and hedge funds have announced that they are entering BTC as well.

Among them is One River, with its intention of acquiring $1 billion in Bitcoin and in Ethereum next year, Ruffer investment company (as it puts over $740 million into Bitcoin), billionaire Glenn Hutchins and others.

Peter Schiff seems to be the only figure who has not announced yet that he was wrong about Bitcoin and keeps taking jabs at Bitcoin and MicroStrategy for their intention to secure more BTC.

Related
Bitcoin Hits $23,000 as It Continues Its Historic Ascent

Binance celebrates a three-year anniversary of success

The head of Binance, Changpeng Zhao, has taken to Twitter to remind the community of the day on which Bitcoin hit its first all-time high of approximately $19,700.

It happened on Dec. 17, 2017, exactly three years ago. On the same day, Binance became the largest crypto trader by daily volume and has been expanding since then, keeping its top position in the industry.

Earlier this month, CZ was included on the 2020 Bloomberg 50 List of Global Icons and Innovators.

It is the annual list Bloomberg comes up with to showcase innovators, industry leaders and businessmen who have impacted the global landscape of business during the year.

BTC
Image via Twitter
article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.