News - Bitcoin: small investors buying more BTC

By Mike Hesp

Bitcoin: small investors buying more BTC

Bitcoin (BTC)
Wallets and Whales

Not the Whales, but small investors are buying more Bitcoin these days. The supply of BTC is shrinking.

The so-called "shrimps," which are Bitcoin-investors owning less than 1 BTC have been buying a lot more lately.

According to data from Glassnode private investors now have seven percent of BTC in circulation.

In the past 30 days, shrimps have bought about 25,000 BTC, surpassing the monthly issuance of new BTC that currently stands at 14,100 BTC. This was first reported by Cryptoslate.

Since the halving only 3.125 BTC per block has been added to the network instead of the previous 6.25 BTC. This reduces the daily supply growth to 450 coins.

As a result, market observers expect a shortage of supply and ultimately an increase in prices.

In Bitcoin parlance, large investors are called Whales. Much attention is focused on their activities because of their ability to influence the market.

Bitcoin is up more than 6 percent today and is currently trading at $66,204. One of the reasons for today's rise is the inflation figures released yesterday by the US.

Large parts of the rest of the crypto market are in the green today.

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