Report Record Number of 48.5 Million Bitcoin Holders
- Bridget Hubbard
- September 4, 2023
- news, Bitcoin, Crypto, Crypto Market
- Bitcoin Holders, BTC, Crypto
- 0 Comments
Despite recent price fluctuations, Bitcoin hits a record 48.5 million holders, with whales accumulating more BTC and boosted investor confidence.
Key Points
- Bitcoin’s number of holders surpasses 48.5 million, exceeding Spain’s population.
- Whales increase BTC holdings by over $1.5 billion despite recent price dips.
- Grayscale’s legal victory against the SEC boosts investor confidence in the crypto market.
- Bitcoin, currently trading at $25,910.67, maintains its dominant position with a $505 billion market cap.
In the ever-volatile space of digital assets, the largest cryptocurrency by market cap, Bitcoin (BTC), has captured the attention of crypto enthusiasts as the number of BTC holders reaches a staggering 48.5 million, exceeding the entire population of Spain.
Analyst Ali reports that the current number of BTC holders has surpassed 48.5 million, a significant milestone that demonstrates the widespread interest and adoption of Bitcoin.
Today, the number of #Bitcoin holders has exceeded the entire population of Spain 🇪🇸, boasting more than 48.5 million $BTC hodlers! pic.twitter.com/uWQVRQsLm6
— Ali (@ali_charts) September 3, 2023
Bitcoin Investors Growing
Despite Bitcoin’s bearish trend, whales, or large Bitcoin investors, have been seen increasing their holdings, indicating their optimistic view of the market. According to data revealed by the crypto analytics platform IntoTheBlock, in the last two weeks of August, Bitcoin investors who hold a minimum of 0.1% of the total Bitcoin supply added over $1.5 billion to their BTC holdings.
This whale activity is particularly noteworthy considering the recent price plunge in Bitcoin, which dipped to a two-month low below $26,000. Despite this, investors remain confident in the long-term potential of Bitcoin and continue to accumulate the cryptocurrency.
One of the driving factors behind this optimism is the recent victory of Grayscale Investments over the U.S. Securities and Exchange Commission (SEC). In a court ruling, Judge Neomi Rao argued that the SEC failed to provide a satisfactory explanation for rejecting Grayscale’s application to convert Grayscale Bitcoin Trust (GBTC) into Bitcoin Spot ETFs. This ruling has boosted investor confidence in the cryptocurrency market, as it suggests regulatory barriers may be overcome in the future.
At press time, Bitcoin is trading at $25,910.67, reflecting a slight surge of 0.40%. Despite fluctuations in price, Bitcoin’s dominant position in the crypto world remains unchallenged, with a 24-hour trading volume of $8,393,256,034 and a live market cap of $505,045,017,903.
Conclusion
The number of Bitcoin holders has reached an all-time high, surpassing 48.5 million. This growth is driven by the optimism of whales, who continue to accumulate BTC despite the bearish market trend. The recent victory of Grayscale Investments over the SEC has further bolstered investor confidence in Bitcoin and the broader cryptocurrency market. As Bitcoin remains the dominant cryptocurrency, its price and market cap continue to attract attention and maintain its position as the leading digital asset.
