Bitcoin records 1,500 millionaires daily

A report issued by Kaiko Research, a cryptocurrency analysis company, showed that 1,500 million new “Bitcoin” wallets were registered on a daily basis, on the “Bitcoin” blockchain platforms, which allow users to store cryptocurrencies.

In a report by Bloomberg, it reported that the cryptocurrency has actually risen by 70% this year, amid growing demand for US stock-traded funds, which were allowed last January for the first time to invest directly in Bitcoin. However, the pace of creating new million-dollar wallets is less compared to that. During the last market rise period during 2021, when there were 4,000 wallets reaching the level of one million dollars daily, and the highest level witnessed this year was 1,691 wallets on the first of this March.

This slower pace may be due to some factors, including the fact that new capital has not yet entered the market in full force and the so-called large whales are making profits at a time when Bitcoin is reaching new highs. These whales store their assets in depository companies and not in personal wallets, according to Caico mentioned in its report yesterday. The report stated: “2021 witnessed the entry of huge funds into capital in various ways, as bulls sought to benefit from the propaganda of cryptocurrencies. “This time, whales could adopt a more cautious approach, waiting to see if the gains are sustainable before investing.”