CandleFocus Bitcoin Accumulation Addresses Now Hold $194 Billion in BTC as Long-Term Investors Stack Sats at Unprecedented Pace
2024-10-23
Author: Content Editor
The number of Bitcoin addresses that have never had an outflow of Bitcoin is accumulating the cryptocurrency at an unprecedented pace, now holding 2.9 million BTC worth around $194 billion. These addresses, which belong to individual or institutional investors, have been actively accumulating BTC for the long term and currently hold at least 10 BTC each. The accumulation has been increasing steadily since 2018 and could reach 3 million BTC by the end of the year. If the price of BTC rises to $70,000, their holdings would surpass the market capitalizations of companies like General Electric. Spot Bitcoin exchange-traded funds in the US have seen significant inflows this year, with only a few experiencing outflows.
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