Bitcoin and Ethereum holders grow despite price correction

Despite price correction, the number of addresses holding Bitcoin and Ethereum continue to rise, according to Glassnode. Online payment company Square announced that it has invested another US$170 million on Bitcoin, which it is now owning over 8,000 Bitcoin in total. Moveover, Cathie Wood, CEO and founder of ARK Invest, said in an interview with Bloomberg that they were positive on Bitcoin, and described the current market phenomenon as “a healthy correction”.

From “Bitcoin: Number of accumulation address” data on Glassnode, we saw a significant change in the public acceptance of Bitcoin. Compared with the situation in January 2018, the number of accumulation addresses that hold Bitcoin dropped when the price fell after reaching the ATH. However, BTC’s correction today does not drive holders to sell their assets and even attract more traders to hold it, accompanied by the participation of institutions and the increase of applications of Bitcoin, suggesting that the community is confident about the future of Bitcoin.

The statistics on Glassnode could be a proof of the prediction of Michael Saylor, CEO of MicroStrategy,

”We are going to see a day when 7–8 billion people have a bar of digital gold on their phone, and they are using it to store their life savings,”