Retail investors in the cryptocurrency market, known as “shrimps,” are accumulating more bitcoin than miners can issue on a monthly basis. This trend suggests high demand and potential support for price growth. Shrimps have been accumulating an average of 33,800 bitcoins per month, surpassing the monthly issuance of new bitcoin. This level of accumulation is even higher than during the 2017 bull run. Meanwhile, miners have been selling their coins on exchanges. The accumulation trend is not limited to shrimps but also includes “crabs,” who hold between 1 and 10 BTC. Retail investors now hold about 83% of all bitcoins in circulation. This accumulation by retail investors comes at a time when bitcoin’s price has been growing, and major investment firms like BlackRock and Fidelity have shown interest in the cryptocurrency. This ongoing accumulation and robust demand from retail investors highlight bitcoin’s enduring value and potential as an investment opportunity.
AI Sentiment: Positive
