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Whales Now Hold 48.7% of Total Bitcoin Supply After Buying 90,000 BTC Recently: Report

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Wed, 06/16/2021 - 09:57
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Yuri Molchan
Data provided by a popular analytics company shows that crypto whales have been accumulating Bitcoin recently and now hold almost half of the total BTC supply
Whales Now Hold 48.7% of Total Bitcoin Supply After Buying 90,000 BTC Recently: Report
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Santiment analytics team has taken to Twitter to share that Bitcoin whales have been increasing their BTC positions in the past three months and now hold half of the whole supply of the largest cryptocurrency.

Whales have accumulated 90,000 Bitcoins

Santiment’s tweet published earlier today shows that in the past 90 days, the number of wallets that hold 100 – 10,000 BTC have added a total of 90,000 Bitcoins to their holdings.

That’s an equivalent of a whopping $3,606,867,000.

Overall, these addresses hold a seven-week high of 9.11 million – almost half of the total Bitcoin supply.

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Image via Twitter

Number of 100-1,000 BTC wallets going up on steady basis

Previously, U.Today reported that owners of smaller-sized Bitcoin wallets, 100-1,000 BTC, had also been buying more BTC on the dip.

By June 8, the Santiment chart showed that these purchases had been occurring for almost a month.

The Santiment team back then pointed out that the whales were grabbing the BTC dip with confidence. Besides, they were not in a rush to get rid of their Ethereum stashes either.

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Miner Bitcoin outflow index plummets

Fresh data shared by Glassnode analytics company shows that miners have also been holding the mined Bitcoins to themselves lately.

As per the chart the team has just published, miners’ sales of BTC have hit a five-month low, now totaling $1,725,244.14 in BTC.

Miner Outflow Multiple index (7-day MA) has also dropped to a major low (8-month low), hitting 0.885.

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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.