New data from market intelligence firm Santiment reveals that deep-pocketed Bitcoin (BTC) investors have splurged over $750 million on the king crypto during the last three months.
According to Santiment, Bitcoin millionaires and billionaires have ramped up their activity since May, accumulating the top crypto asset by market cap at a high rate, pushing their total amount of BTC owned up to 11.5 million, which is over half of BTCâs overall supply.
âThere are currently 15,870 Bitcoin addresses that hold at least 100 BTC. Collectively, these whales own 11.5 million BTC, making up over half of the total existing supply (59.2%). Over the past 12 weeks, their collective share has risen by 27,755 BTC.â
Furthermore, the crypto analytics platform notes that whale activity centered around Wrapped Bitcoin (wBTC) has seen a major spike in activity as well.
According to the data, on-chain transaction volume of wBTC is at the highest it has been in over a month as high-net-worth traders move the digital asset out of crypto exchange platforms.
âWrapped Bitcoin is seeing major activity today after a pair of 2,000 wBTC moves that resulted in a drop in exchange supply. On-chain transaction volume is at its highest level in over a month. This is especially relevant in how BTC can be impacted.â
Bitcoin is trading for $29,280 at time of writing, a fractional decrease during the last 24 hours.
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