Bitcoin millionaire addresses growing at a pace similar pre-2014
- Willy Woo says interest in Bitcoin in 2019 is mostly financial and not technical.
- There is an increase in the number of wealthy individuals interested in Bitcoin.
New data shows that the number of Bitcoin addresses containing over 1,000 BTC is growing at a similar rate this year to that prior to 14. The data was shared by Willy Woo a Bitcoin statistician using a chart illustration.
Woo said in summary:
“The rate of growth of 1000BTC addresses now matches the early growth in Bitcoin's network.”
According to Woo who incorporated original data from Glassnode, there is fresh demand for major Bitcoin balances even at higher prices following the growth in interest of wealthier individuals.
Woo concludes that the interest in Bitcoin in 2019 is largely financial contrary to the technical interest before 2014.
“IMO we're likely in a new renaissance of Bitcoin, this one is powered by capital influx of high net worth investors, while the early one was from the tech savvy who were bootstrapping the network. Super Bullish.”
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
