Bull Market Recovery: No. Of Bitcoin Addresses Hit ATH

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Bitcoin is recovering from its recent price corrections. At the moment of writing this article, BTC is trading in the green and the king coin is priced at $57,134.

Glassnode reveals number of BTC addressees smashed all ATHs

It’s been revealed that despite Bitcoin’s price correction this month, the number of addresses with a BTC balance has surged to an all-time high, according to the crypto insights firm Glassnode.

The number of Bitcoin addresses with a non-zero balance hit a new all-time high last week, Glassnode said.

Check out this relevant tweet as well.

 

Bitcoin ownership is a hedge against inflation

The other day, we were revealing that Morgan Creek Capital Management’s Mark Yusko also said that owning Bitcoin and other digital assets is a means to escape the massive inflation.

During a new interview with CNBC, the head of the investment management firm calls Bitcoin a “perfect” store of value asset.

This is extremely important because we live in a world where governments are in a race to devalue their currency.

“When you think about countries like Venezuela or Zimbabwe, where the countries themselves devalue their currency 99.99%, all of your wealth is destroyed…It’s not so much that Bitcoin is getting better relative to those currencies. Those currencies are just getting worse. And the same thing is happening all around the world. There’s a global race to the bottom.”

He continued and explained that when countries become very indebted, the only way out is to devalue the currency.

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