GLOBAL ADOPTION OF BITCOIN

Glassnode reports that Bitcoin which is the world’s most valuable cryptocurrency has produced over 94,000 millionaires.

According to Glassnode,

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ATH: There are now more than 94,000 #Bitcoin addresses holding at least $1 million worth of $BTC.

The steep increase in mid-December marks the point when BTC crossed $20,000 – making all early miner addresses (50 BTC rewards) millionaire addresses.

Bitcoin is traded at $51,938.43 with a trading daily volume of about $81.5 Billion at the time of writing this article which represents that bitcoin is up by 5.05% for today.

According to Narametric, the increased buying pressures by notable institutional brands are partly responsible for the non-dilutable crypto’s recent highs. While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.

Bitcoin over the year has been experiencing an increase in trend and considering the fact that it has been receiving recommendations from top companies like BNY Mellon, Mastercard, and America’s oldest bank, then we believe that this year might be a good year in terms of bitcoin price appreciation.

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BlackRock which is the world’s largest asset fund manager with Paypal has shown interest in cryptocurrency has PayPal will soon integrate buying and selling of crypto in their system.

Telsa which is also one of the biggest carmakers in the world has also shown interest in bitcoin as it will be used as a future payment method in the company.

However, investment from Square, Paul Tudor Jones, MassMutual, and SkyBridge Capital is another proof that big money is going into the crypto world and price appreciation is expected.

According to Nairametric,

In addition, the previous Bitcoin bull markets are characterized by fingerprints of increased miner outflows of $BTC that had been acquired throughout prior years.

Even though we’re seeing slightly higher outflows of older BTC, this same pattern has not emerged in the current bull market.

Glassnode also reported that Trading volume on CME crossed the $5 billion mark for the first time. 

Conclusion

Bitcoin has made over 94,000 millionaires which each of them owning at least one million dollar worth of bitcoin.

Crypto gurus suggest that this year might be a good year in terms of bitcoin price appreciation considering the kind of investors and companies that are going into the crypto world especially the bitcoin space.

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