The Bitcoin blockchain makes it possible to analyze in detail how things are going under the hood with the digital currency. For example, by looking at the extent to which certain groups of investors add or sell Bitcoin to their wallets. An interesting development in recent years is that small investors in particular seem to be attracting more and more Bitcoin.
That is proof that the real hodl army is slowly but surely sucking up all 21 million Bitcoin. In theory, that should mean that the price will eventually explode. That is of course what everyone is waiting for.
What about the shrimp?
We will first look at the so-called shrimps. These are Bitcoiners with a total of 0.1 to 1.0 Bitcoin in their wallets. At the time of writing, this means a capital of between ~2,650 and 26,500 dollars.
The Bitcoin price (black line) may move unexpectedly in this graph, but the behavior of the shrimp is completely predictable. The blue line just keeps going up, which means that this group of Bitcoiners continues to hoard massive amounts of Bitcoin.
At the time of writing, this group already owns more than 1 million Bitcoin. In 2023 alone, the number of Bitcoin owned by this group of Bitcoiners has increased by about 40,000 units. At current rates, this amounts to approximately $1 billion worth of Bitcoin.
That’s just the beginning
The shrimp buying behavior is just the beginning. If we look at the to scratch it gets really interesting. These are Bitcoiners with a wallet of at least 1 to a maximum of 10 Bitcoin. In total, this group owns more than 2.1 million Bitcoin and therefore controls at least 10 percent of the entire supply.
The most interesting thing about this group, in my opinion, is the growth in the amount of Bitcoin they own, which is really explosive. From early 2022 through today, these Bitcoiners collected about 400,000 Bitcoin. If they continue at that rate, there will be nothing left for the rest of the world.
Measured from the beginning of 2023, this group bought about 50,000 Bitcoin, which is also more than $ 1 billion at current prices. In other words, the hodl army continues to buy steadily.
Add to that the fact that the halving is getting closer and it could just be a very interesting period for Bitcoin.