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New Data Indicates Record Number of Retail Investors Have Invested in Bitcoin (BTC)

October 28, 2020

New data from crypto intelligence firm Glassnode suggests retail investors are flocking to Bitcoin as the number of wallets holding BTC worth $1,000 or less print new all-time highs.

In a new tweet, Glassnode CTO and on-chain analyst Rafael Schultze-Kraft shows that the number of wallets holding $10, $100, and $1,000 worth of BTC is currently at record highs.

“Number of Bitcoin addresses holding at least…

…$10 worth of BTC: 17.6M ––– ATH…$100 worth of BTC: 9.7M ––– ATH…$1000 worth of BTC: 3.6M ––– ATH”

All in all, the number of wallets with a balance worth $1,000 BTC or less is nearly 31 million.

As more retail investors bet on the largest cryptocurrency, the number of Bitcoin whales is also seeing signs of growth. According to Glassnode, the number of addresses with a balance worth $1 million or more in BTC has registered a new high in nearly three years.

“The number of Bitcoin millionaire addresses (addresses holding ? $1M worth of $BTC) crossed 20,000. It is the highest value since January 2018.”

Bitcoin’s improving fundamentals comes as the world’s dominant cryptocurrency is poised to close the month of October on a high note as it trades around $13,800 according to CoinGecko.

Trader Josh Rager is bullish on BTC as he tells his 89,000 followers that Bitcoin is primed to establish its highest monthly close ever.

“You can’t look at the current monthly chart for Bitcoin without smiling. Open skies overhead for Bitcoin as it’s near to break the all-time high for monthly close at $13,880. If I’m on the outside looking in, this chart is a positive sign with new monthly high potential.”

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.