In total, these crypto whales augmented their reserves by a whopping 76,000 bitcoins. The number of cryptocurrency wallets holding between 10,000 and 100,000 bitcoins expanded by 2.88%. Remarkably, during the prior week, the count of addresses belonging to prominent investors surged by an astounding 119.83%.
Over the past 30 days, the number of addresses holding a balance of 0-0.001 BTC experienced a 1.02% increase. Conversely, the number of addresses with a balance ranging from 0.001-0.01 BTC and 0.01-0.1 BTC recorded a decline of 1.90% and 1.36% respectively.
The experts at IntoTheBlock suggest that these shifts in data suggest a growing concentration of cryptocurrency holdings among a select group of individuals.
Renowned economist and vocal critic of cryptocurrencies, Peter Schiff, has even gone as far as to suggest that, under specific circumstances, the price of Bitcoin could surge to an unprecedented $10 million.