Unprecedented Bitcoin Movement To Strong Holders Is Taking Place

Bitcoin’s 2021 bullish trajectory is making waves in the crypto space. The king coin has been seeing numerous ATHs this year and things continue to go great regarding the mass adoption of BTC as well.

This time, unlike 2017, there are tons of big players involved and the popularity of Bitcoin continues to rise.

We’ve recently reported that BTC is set to hit lots of US banks.

Bitcoin to reach the US banks in a massive adoption wave

CNBC learned that Bitcoin could be taking another massive step towards the mainstream adoption in 2021.

It’s been revealed that the customers of some US banks will be able to buy, hold and sell BTC via their already existing accounts, says crypto custody firm NYDIG.

The company is a subsidiary of $10 billion New York-based asset manager Stone Ridge, and it has partnered with fintech giant Fidelity National Information Services (FIS) to enable U.S. banks to offer BTC in the coming months, according to the two firms.

CNBC says that “Hundreds of banks are already enrolled in the program, according to Patrick Sells, head of bank solutions at NYDIG.”

Bitcoin’s movement to strong holders is unprecedented

Crypto analyst Willy Woo just noted that the movement of Bitcoins to strong hands in 2021 is without precedent. Check out the tweet that he shared on his social media account, citing data from Glassnode.

He continued and noted the following:

He also said that “Leverage markets that grew in size from 2017 may have had a part to play also. Lots of coins used moved in order to trade them, with leverage less coins need to move for the same amount of speculation.”

Woo continued and posted the following: ” In the early days of Bitcoin, it was used as a currency (Silkroad era) so makes sense coins moved between more liquid hands.”

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.