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Number of Bitcoin Holders with Over 1,000 BTC Has Surged Since Early 2019 Despite BTC Price Growth

  • Yuri Molchan
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    The number of Bitcoin wallets holding more than 1,000 BTC this year has increased despite the BTC price surging since early 2019

Number of Bitcoin Holders with Over 1,000 BTC Has Surged Since Early 2019 Despite BTC Price Growth
Cover image via news.u.today

A chart published on Twitter on Friday shows a massive rise in appearance of crypto wallets that hold more than $1,000 BTC on them.

As 2019 only started, the Bitcoin was trading at around $3,500, then showing a major upsurge a few months later. Recently, Bitcoin experienced a major decline, dropping from around 9,620 down one thousand USD and then even lower.

Almost a month ago, Bitcoin hashrate reached a historical milestone of 100 EH/s.

It is likely that the amount of ‘wealthy’ BTC wallets has surged not despite BTC price growth but thanks to it. Overall forecasts for next year have been largely positive so far, taking into account the Bitcoin halving that is expected in May 2020.

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As per the chart, there were several rises in the appearance of these wallets holding over 1,000 BTC and it seems that this process continues.

Some in the comment thread have expressed doubts as to whether these are new users with a large amount of BTC on their BTC addresses.

 

Do you expect the Bitcoin price to surge beyond $20,000 after the halving in 2020? Feel free to leave your comment on that below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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