The number of privacy transactions on the Bitcoin network has significantly increased in the past two years, with whales using methods like CoinJoin to accumulate large amounts of Bitcoin discreetly. The annual average number of CoinJoin transactions has tripled since 2022, indicating a growing focus on privacy among institutional and individual investors. This increase in privacy transactions aligns with significant whale activity, with 1.55 million BTC flowing into accumulation addresses in 2024. U.S. Bitcoin ETFs and companies like MicroStrategy have also been accumulating significant amounts of BTC. However, the rise in privacy transactions has raised concerns about hackers laundering stolen funds. Despite this, the surge in privacy transactions demonstrates how whales and institutions are increasingly prioritizing discretion to avoid regulatory scrutiny.



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