Last Updated: 27 July 2022
The bitcoin exchange rate is going through hard times. It was not long ago that the price stood at $69,000. We are now well below that. However, this does not mean that no one is buying or saving anymore. We take a look at one of the smallest groups of investors: addresses with less than 1 BTC.
Small addresses are buying from
Since bitcoin’s big drops, the smaller group of investors have also been busy buying.
The chart below shows that while bitcoin’s price is falling, more and more relatively small addresses are buying in. That amounts to about 156,000 bitcoin extra with the small investors. Glassnode jokingly calls them shrimps, as a counterpart to the rich whales.
#Bitcoin Shrimp cohort with < 1 BTC have increased their relative holdings of the circulating $BTC supply from 5.2%, to over 6.0% since the LUNA collapse.
This is equivalent to 156k $BTC added to Shrimp on-chain balances in aggregate. pic.twitter.com/MNHTWIQtbe
— glassnode (@glassnode) July 26, 2022
For the outsider, addresses cannot be linked to a person. So it is not clear who or what is behind each address. This is a plus for bitcoin,
but also makes this kind of statistics part guesswork.
You can generate a stream of addresses for yourself for free. It is even advisable to use a new one for each new transaction or receipt. In addition, many users do not keep all their BTC in the same place.
