Total Bitcoin wallets owning 0.1 BTC climbs to new all-time high

27 May, 2019 | Updated: 27 May, 2019
by Ryan Boltman
Analysis
Total Bitcoin wallets owning 0.1 BTC climbs to new all-time high

It appears 2019 has put Bitcoin back on track for mass adoption, as the total amount of wallets holding 0.1 BTC has increased to its highest level ever.

Coinmetrics, a crypto asset market and network data provider, supplied an image showing that BTC addresses with 0.1 BTC have increased to their highest levels ever. The previous all-time high appears to have been around late 2017/early 2018 around the time of the last major bull run.

However, with the increased positive growth in Bitcoin, it appears more and more people are diversifying back into Bitcoin, with wallets that hold 0.1 BTC now reaching a new high. The current number looks to be somewhere in the region of 2.7m wallets holding at least 0.1 BTC.

While holding an entire BTC may not be the easiest task for most people at the current price per BTC. 0.1 BTC is certainly an easier goal, and it looks like users are accumulating in small amounts.

Others are saying Bitcoin mixers might be the reason for the latest rise in wallets holding 0.1 BTC. Mixers break a connection between a sending address and a receiving address, and make sure funds are untraceable and wallet owners keep their anonimity, even when someone is spying on them.

In the meantime, Bitcoin keeps reaching new 2019 highs, with BTC almost hitting $9000 on Sunday. With Bitcoin rising again, bears are having a hard time. During the latest push Bitmex short liquidations hit $131 million.

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Read more about: Bitcoin (BTC)

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