Bitcoin Whales are in Accumulation Mode – Blockchain News, Opinion, TV and Jobs

Marcus Sotiriou, Market Analyst at Listed Digital Asset Broker global block (TSXV:BLOK).

Despite the bearish price action seen over the past year, Glassnode data shows that the Bitcoin whale continues to accumulate. number of Bitcoin addresses) has grown exponentially this year as shown below. This means that the percentage of Bitcoin whales has increased significantly compared to the beginning of the year, as whales decided to accumulate more Bitcoin while discounted.

MicroStrategy is one of the Bitcoin whales that continues to add to the Bitcoin stack as it announced yesterday that it has purchased more Bitcoin for its corporate finances.

MicroStrategy founder Michael Saylor announced:

MicroStrategy has increased its Bitcoin holdings by up to 2,500 BTC. As of December 27, 2022, MicroStrategy holds 132,500 Bitcoins acquired for $4.03 billion at an average price per Bitcoin of $30,397.

Microstrategy purchased an additional 2,500 coins between November 1st and December 24th, averaging around $17,900 per coin.

Thaler’s belief in Bitcoin has not changed during this year’s crypto market turmoil. He claimed in an interview last week:

“The most positive thing about this year is the emergence of Bitcoin as an institutional-level digital asset and the clarity that there is one digital commodity, the crypto asset…Bitcoin is that commodity.”

In fact, both the Chairman of the SEC and the Chairman of the Commodity Futures Trading Commission (CFTC) have confirmed that Bitcoin is a commodity, so it does not have the regulatory risks that most other crypto assets have. I am optimistic that regulation will come into force next year, removing much of the regulatory risk in the rest of the cryptocurrency industry and making it clearer to the SEC what is security and what is not. prize.

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