There are all kinds of predictions about the price of Bitcoin and the mass adoption of the king crypto.
Most of them are optimistic and this had to do with the huge wave of institutional investors who are already flocking towards BTC these days.
Willy Woo who is really popular on Twitter also had to drop a through recently.
Massive wave of wealthy investors in Bitcoin
He just said that there’s a wave of high-net-worth investors are buying Bitcoin at an unprecedented pace, according to on-chain crypto strategist Willy Woo.
Woo cited aggregated network data showing that the number of Bitcoin addresses with 1,000 BTC or more is surging.
“Whale spawning season is here (1,000 BTC or more). Very high net worth individuals are coming in, in droves. This cycle is unlike any we’ve seen before.”
He also had the following to say:
The world has 47m millionaires, 71% of them live in the US or EU, there’s only 14.9m BTC in circulation, and only 4.1m BTC are liquid and therefore able to be bought.
HNW individuals just got notified they need an allocation, IMO this is the reason why BTC rocketed past 23k.
— Willy Woo (@woonomic) January 14, 2021
He said: “On-chain study of BTC that is liquid by @glassnode Supply of BTC in circulation uses current supply minus 3.7m lost coins by Chainalysis.”
He continued and pointed out to the fact that “And BTW, those 4.1m coins that are liquid and available is dropping really quickly ever since COVID bootstrapped this round of money printing.”
A commenter said: “That is surprising the number is that low. I would have thought for the entire world it would be a bit higher. Where do you get the data on how
many millionaires there are in the world? Thank you!”
At the moment of writing this article, BTC is trading in the green and the coin is priced at $36,459.87.