Woo cites aggregated network data that shows the number of Bitcoin addresses with 1,000 BTC or more is surging.
“Whale spawning season is here (1,000 BTC or more). Very high net worth individuals are coming in, in droves. This cycle is unlike any we’ve seen before.”
Woo is also highlighting data from the crypto analytics firm Glassnode that shows the amount of liquid BTC on the market has been on a steady decline since March of last year, when governments began printing money at rapid rates.
“The world has 47 million millionaires, 71% of them live in the US or EU. There’s only 14.9 million BTC in circulation, and only 4.1 million BTC are liquid and therefore able to be bought.
High-net-worth individuals just got notified they need an allocation. In my opinion, this is the reason why BTC rocketed past $23,000.”
“If you think you’re late to the Bitcoin party, think again. Bitcoin’s risk adjusted returns has been at the same high levels for 6 years running. Clearly outperforming every other asset class since its inception.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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