Posted 3/11/2024, 8:36:00 PM
Bitcoin's Rally Drives Record Growth in Million-Dollar Crypto Wallets Despite Caution Among Long-Term Holders
- Bitcoin's rise is driving over 1,500 crypto wallets to surpass $1 million per day, per Kaiko Research
- Bitcoin hitting new highs suggests it is more than a passing fad, says Ruchir Sharma
- Around 70% of bitcoin accounts are dormant, indicating investors are buying to hold long-term
- Institutional engagement with bitcoin ETFs is set to surge from $50B to $300B by 2025
- This bitcoin rally is not yet boosting wallet values like the 2022 rally did, possibly because long-term holders are cautious