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Number of Active Bitcoin Addresses Jumped 30% With 9.23 Million BTC In Total

MicroStrategy

Bitcoin addresses that hold between 100-10,000 BTC have hit 325,000 in July’s last week, up 30% from 250,000. The total amount of Bitcoins held in these addresses hit 9.23 million BTC ($364 billion) on August 1st. 

A report from an analytics company, Santiment, shows that this achievement is happening as a bullish trend grows in the crypto market. 

The report also claims that these active addresses have amassed about 170,000 BTC over the last four weeks. The last time there was a similar occurrence was towards the end of December 2020, when the price of BTC moved to $40.8k from $29,000 just before the massive bull run in early 2021.

Just as there is a notable increase in the numbers of active BTC users, BTC investors have also been purchasing more crypto. Also responsible for this feat was Elon Musk’s announcement on July 22nd. Musk revealed that SpaceX owns BTC and that Tesla plans to resume accepting crypto as a payment method. 

Back in May, Musk announced that Tesla will no longer receive Bitcoin payments, not long after the company announced plans to accept Bitcoin. According to the CEO, the decision was necessary because of the energy consumption required for mining Bitcoin.

Image Credits: Pixabay

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