Bitcoin (BTC) Whales Accumulated $3,380,000,000 in BTC in Less than a Month



Bitcoin (BTC) whales are currently busy storing Bitcoin. The asset’s value slumped from its all-time high of around $65,000 to just under $40,000.

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Bitcoin addresses holding 100 to 10,000 BTC have bought a total of 90,000 Bitcoins in the last 25 days, according to crypto analytics firm Santiment. It is currently worth $3.38 billion in total.

The amount held by these Bitcoin holders is almost half of the circulating supply of the cryptocurrency, Santiment reported.

“They have a 7-week high of 9.11 million BTC, which is currently worth a total of $366.89 billion and is worth 48.7% of the total Bitcoin supply.”

In addition, Blockchain analytics firm Glassnode says that the miners powering the network now hold more Bitcoin.

Weekly Bitcoin outflows from miner addresses dropped to about $1.7 million, the lowest level in the last five months.