The number of Bitcoin addresses holding less than 1 BTC has been steadily growing. According to analyst Axel Adler Jr., CryptoQuant analyst, there are currently 323,000 such addresses, with Bitcoin priced at $101,000. This represents an improvement from 265k addresses when Bitcoin was at $61k. This growth means there is an increase of 21.9 percent in the so-called ‘shrimps’ holders.
Small $BTC Investors Stay Bullish, Buying Even as Prices Increase
It is interesting to note that while the term ‘shrimps’ means small investors, these holders are extremely bullish on Bitcoin. They have continued to buy Bitcoin, even as prices increase. According to Axel Adler Jr., such behavior demonstrates that people see big potential in Bitcoin in the long run.
Other analysts estimate that there will be as many as 351,000 addresses containing less than 1 BTC in the near future. This suggests that there are more people buying it and adopting the currency regardless of the prices as they surge.
Increase in Bitcoin Shrimps Signals Growing Trust in Bitcoin as Store of Value
Surprisingly, this behavior indicates that small investors are not concerned with the current price of the shares. As such, they still have every reason to continue holding Bitcoin regardless of its high-volatile nature. This is a good sign for the cryptocurrency market especially for Bitcoin because it has attracted many big and small investors.
Additionally, the increase in the ‘shrimp’ addresses might indicate an interest in Bitcoin as an actual store of value. Where institutional investors and larger entities are buying the asset, smaller holders are doing the same, making the Bitcoin ecosystem stronger.
Finally, the fact that there are more Bitcoin address containing less than 1 BTC now is a positive indicator for Bitcoin. As per analyst, such a trend proves that Bitcoin is still backed by small investors who are expected to drive the market forward in the future.
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