{"id":12944,"date":"2024-04-25T16:43:10","date_gmt":"2024-04-25T13:43:10","guid":{"rendered":"https:\/\/forklog.com\/en\/fidelity-reports-surge-in-bitcoin-wallets-holding-over-1000\/"},"modified":"2024-04-25T16:43:10","modified_gmt":"2024-04-25T13:43:10","slug":"fidelity-reports-surge-in-bitcoin-wallets-holding-over-1000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fidelity-reports-surge-in-bitcoin-wallets-holding-over-1000\/","title":{"rendered":"Fidelity Reports Surge in Bitcoin Wallets Holding Over $1000"},"content":{"rendered":"

By mid-March, the number of bitcoin wallets containing more than $1000 had surged to a record 10.6 million, doubling since 2023. This was revealed in a report by Fidelity Digital Assets<\/a>.<\/p>\n

\"Fidelity
Dynamics of wallets with balances over $1000. Source: Fidelity.<\/figcaption><\/figure>\n
\n

\u201cThis may indicate the growing adoption of bitcoin by the ‘average’ person. The metric points to an increase in the number of small addresses accumulating and holding the asset, even as prices rise,\u201d the study notes.<\/p>\n<\/blockquote>\n

Analysts consider the short-term prospects for the leading cryptocurrency to be \u201cquite positive.\u201d Of the 16 tracked indicators for the coin, a quarter are deemed \u201cnegative\u201d or \u201cneutral,\u201d while half are \u201cpositive.\u201d<\/p>\n

Fidelity also noted the continuation of a long-term trend of declining bitcoin balances on cryptocurrency exchanges. In the first quarter, this figure fell by 4.2% to 2.3 million BTC, which is 30% below the 2020 peak of 3 million BTC.<\/p>\n

\"Fidelity
Bitcoin balance on exchanges. Source: Fidelity.<\/figcaption><\/figure>\n

Experts emphasized that the withdrawal of assets from trading platforms \u201cdoes not necessarily indicate the popularity of self-custody.\u201d<\/p>\n

Among the \u201cnegative\u201d indicators highlighted in the report is the unrealized profit of bitcoin holders. According to the study, by the end of the first quarter, more than 99% of addresses were in profit:<\/p>\n

\n

\u201cAs the number of profitable addresses grows, a sell-off becomes more likely as traders and new investors seek to lock in positions.\u201d<\/p>\n<\/blockquote>\n

Previously, analyst and CMCC Crest co-founder Willy Woo described the leading cryptocurrency as more scarce compared to gold.<\/p>\n

Earlier, Glassnode conducted a retrospective of the halving in terms of bitcoin’s price and fundamental network metrics.<\/p>\n","protected":false},"excerpt":{"rendered":"

By mid-March, the number of bitcoin wallets containing more than $1000 had surged to a record 10.6 million, doubling since 2023. This was revealed in a report by Fidelity Digital Assets. Dynamics of wallets with balances over $1000. Source: Fidelity. \u201cThis may indicate the growing adoption of bitcoin by the ‘average’ person. The metric points […]<\/p>\n","protected":false},"author":1,"featured_media":12943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1248,1252,57],"class_list":["post-12944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-fidelity-investments","tag-reports","tag-wallets"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12944"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12943"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}