The bitcoin crash can be great for those looking to accumulate more satoshis. According to onchain analyses, the current number of addresses with more than 1 BTC is the highest in history.
In total, around 848,000 addresses have at least 1 BTC in their possession. Compared to November last year, when Bitcoin reached its historical maximum price, this symbolizes a 5% growth in the number of these addresses.
Of these, only 4 have a balance of more than 100,000 BTC. Three of them belong to two exchanges, Binance and Bitfinex, while the identity of the rest remains a mystery, the only thing known is that this whale keeps buying BTC during dips.
Bitcoin Crash May Be Behind Record
many people discovered Bitcoin last year after a price increase caused by demand from companies and billionaires seeking to hedge against inflation. As a result, 2021 was marked by price spikes in May and November, making it difficult to accumulate coins.
However, many are taking advantage of this bear market to accumulate more bitcoins. After the number of wallets with more than 1 BTC did not grow for about a year, it increased again in April. However, this number continues to grow and is at its highest point.
Number of addresses with more than 1 Bitcoin (BTC). Source: Look into Bitcoin
Currently, there are at least 848,000 wallets with at least 1 BTC stored. Most of these addresses have balances between 1 and 10 BTC, as shown below.
Between 1 and 10 BTC: 701,105 addresses; Between 10 and 100 BTC: 131,041 addresses; Between 100 and 1,000 BTC: 13,783 addresses; Between 1,000 and 100,000 BTC: 2,224 addresses; More than 100,000 BTC: 4 addresses.
A good part of these wallets may belong to investors who make DCA, that is, who make small monthly purchases.
The biggest whale also continues to buy BTC
In addition to small investors buying the dip, the third largest whale in the market is following suit. In the last month alone, the wallet with the initial 1P5Z seized more than 3,757 BTC.
Purchases of the largest anonymous Bitcoin whale. Source: BitInfoCharts
Finally, in addition to this bear market killing off a lot of bad projects, like Earth (MOON)another positive point is the ease of accumulating more Bitcoin, an asset with a finite number of units and that many consider better than gold.