Bitcoin wallets with 100+ BTC hit new heights in single-day surge

There has been a significant one-day increase in Bitcoin (BTC) wallets containing 100 or more BTC, marking the biggest jump in 2023.

Crypto analysis firm Santiment revealed that the number of Bitcoin wallets with over 100 BTC spiked to 15,970 last Saturday. Currently, 100 BTC is valued at approximately $2.8 million.

🐳 #Bitcoin's number of wallets holding at least 100 $BTC has jumped to 15,970 after the largest single day jump of 2023 on Saturday. Since this accumulation, $BTC's price is +5.3%, and they may not be done. We will continue to monitor. https://t.co/l0drhvkf7E pic.twitter.com/0mDAmys7N4

— Santiment (@santimentfeed) October 18, 2023

This surge coincides with increased accumulation by large pro-BTC firms such as Tesla Inc.and MicroStrategy Incorporated. Analyst Ali Martinez reported these firms purchased the cryptocurrency when it was valued between $25,000 and $30,000, creating significant volume at this price level.

In addition, MicroStrategy purchased about 5,445 BTC, valued at around $147 million, last month. As of September 24, 2023, the firm held 158,245 BTC, worth an estimated $4.68 billion.

The London-based Standard Chartered PLC announced that it has chosen Dubai as its base for launching crypto services, starting with crypto custody services for institutional clients in the first quarter of 2024.

Read Now: Shibarium community burns 97M Shiba Inu tokens; no impact on SHIB supply