Wallets holdings of 0.1 BTC reaches all time high
- 15th June 2020
- Posted by: Hakeem
- Category: Crypto, FOREX LATEST NEWS DAILY
The number of individuals with Bitcoin (BTC) assets of 0.1 coins or more has broken into new all-time highs.
Data obtained by a popular crypto data aggregator Glassnode recently shows the number of Bitcoin wallets holding 0.1 BTC or more reaching a new record high of 3,054,282 — beating out May 21’s previous record by about 212 addresses.
What you need to know; The smallest of amount of Bitcoin is known as Satoshi, which is 0.00000001 Bitcoins. But since this number is so little, you can’t actually buy 1 Satoshi on any crypto exchange. On Coinbase, for example, the minimum amount you can purchase starts from 2 Dollars.
The number of BTC wallets holding 0.1 BTC or greater has been increasing since the plunge of 2017 bull run after reaching its peak.
READ MORE: How Bitcoin will hit $100,000?
Meanwhile, a report released by America’s most valuable bank, JP Morgan chase, now believe Bitcoin is a store of value asset;
“Though the [bitcoin] bubble collapsed as dramatically as it inflated, bitcoin has rarely traded below the cost of production, including the very disorderly conditions that prevailed in March,” said JPMorgan experts in a report led by head of U.S. interest rate derivatives strategy Joshua Younger and cross asset research analyst Nikolaos Panigirtzoglou.