Christmas Eve Data: Ho-Ho-Holders of 1 Bitcoin Or More Grow Year Over Year

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With Bitcoin price well over $20,000, chances are the cryptocurrency will be a topic during holiday dinner table discussions once again this year. Investors in “digital gold” in 2020 are especially merry right now, after a 500% rally from yearly lows. Data taken from each Christmas Eve to the next shows that it isn’t just holiday cheer that is spreading, and that wallets holding 1 BTC or more have reached their highest level historically. Christmas Cheer: Bitcoin Ho-Ho-Holders With 1 BTC Spreading, Data Shows Much of the reason why the first-ever cryptocurrency confounds traditional financial analysts is due to a lack of understanding of the asset’s underlying network and the power of the “network effect.” As Bitcoin spreads and becomes more decentralized, its network becomes larger and stronger. This adoption, fundamentally, is why the asset is back in a bull market. Add in the fact that demand far outweighs the…

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