The number of wallets owning at least 10 BTC exploded

According to Santiment, the number of wallets holding at least 10 BTC has reached an all-time high. There are now 157,400 wallets reaching this threshold, surpassing the previous record in 2019.

Bitcoin accumulation has increased steadily over the last 20 months, showing a significant increase in the number of wallets containing 10 BTC. As of February 2022, the number of these wallets increased by about 8.12%.

Over the past 20 months, an additional 11,806 addresses have reached the threshold of holding more than 10 BTC. But this increase in the number of addresses does not necessarily represent increased market participation, as these small balances could be the result of large transactions or once-held assets.

Bitcoin price

Bitcoin recovered and reached a high of $26,910 on October 14, after news of the SEC not appealing the Grayscale lawsuit decision. Previously, a court fined the SEC for refusing to convert a Bitcoin (BTC) trust to Grayscale's ETF.