The number of bitcoin “whales” – large investors holding more than 1,000 BTC – reached a four-year high at the same time as the price of the cryptocurrency rose to $13,000.
Glassnode analysts report that as of October 25, the number of “whales” reached 1,939 – the highest figure since September 2016. Over the past week, the number of whales increased by 2.2%, and the price of the first cryptocurrency increased by 13%. Bitcoin hit a 13-month high and surpassed $13,300 after PayPal announced the addition of cryptocurrency support for US users.
Several large companies have recently disclosed information about investments in BTC, which could also affect the market. Last week, the total dollar value of crypto assets managed by Grayscale trusts reached $6.5 billion for the first time. Of these, $5.4 billion is concentrated in the Grayscale Bitcoin Trust (GBTC). After that, Grayscale invested another $300 million in cryptocurrencies.
According to BitInfoCharts, the average BTC transaction amount in dollars has increased sixfold over the past three months: from $25,000 in July this year to $151,000 as of October 20. This also indicates an increase in the activity of large investors.