Bitcoin Holdings Increased By Big Investors in 2024

Bitcoin Halving Doubles Bitcoin Investment By Whales

Bitcoin whales have increased their BTC holdings in the past two months. With Bitcoin surpassing its $70,000 mark, it has been consistently performing well. Recently, BTC reached an all-time high of $73,737. However, it has been trading within the range of $68,000 to $70,000 for some days now. Many investors have booked profits after crossing BTC's all-time high. Yet, big Bitcoin investors, known as Bitcoin whales, are still holding onto their BTC and steadily increasing their holdings, anticipating future price hikes. According to market intelligence firm data, the percentage of wallets holding between 1,000 BTC and 10,000 BTC increased from 23% on January 1st to 25.17% on March 26th.

According to data, the number of Bitcoin whales transferring Bitcoin is continuously increasing. According to blockchain tracker and analytics firm Whale Alert, on March 11th, when BTC was trading between $65,000 to $69,000, Bitcoin whales transferred a large amount of BTC to self-custody wallets from exchanges. Notably, on March 25th, a Bitcoin holder transferred 2,400 BTC worth $169.5 million from the crypto exchange Coinbase to an unknown wallet. Another whale transferred approximately 4,797 BTC worth around $339 million from Coinbase to an unknown wallet.

BTC is gearing up towards its highly anticipated event, Halving

According to Coin Gabbar, the primary reason behind Bitcoin whales continuously increasing their holdings is the upcoming Bitcoin Halving event. Whales are hopeful that after the Halving event in April, there will be a significant surge in Bitcoin's price. Experts have also made similar predictions about BTC. Although BTC has experienced a slight downturn in recent days, investors believe that this downturn will not last long, and in the coming days, Bitcoin will set a new record.

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