More Than 40% Of Bitcoin Supply (BTC) Now Owned By Whale

JAKARTA - The trend of accumulation of Bitcoin by large holders or often called whale' has continued to increase since mid-March. Based on the latest data, the whales that have more than 1,000 BTC now collectively control more than 40% of the total supply of Bitcoin.

The accumulation of Bitcoin by holders shows an increase in trust and confidence among rich investors as well as institutions towards potential BTC prices in the future. Historically, the accumulation by these large holders has often preceded a significant price increase, as it reduces supply in circulation and increases scarcity.

This development coincided with a surge in investment interest in the Bitcoin Spot ETF. According to CryptoPotato information, Wednesday marks the strongest inflow day since March, with BTC price trading above US$71,000 (around Rp1.15 billion). This investment instrument, which received approval from the United States Securities and Exchange Commission (SEC) in January, plays an important role in legitimizing and facilitating activity in the market.

According to data from Farside, the spot's Bitcoin ETF recorded an inflow of more than 886 million US Dollars (approximately IDR 14.4 trillion) on Tuesday. Fidelitys FBTC attracted the highest inflow of 378 million US Dollars (approximately IDR 6.1 trillion), followed by BlackRock's IBIT which saw an inflow of 270 million US Dollars (approximately IDR 4.3 trillion). Interestingly, Grayscales GBTC, which has historically experienced an outflow, also attracted 28 million US Dollars (approximately IDR 455 billion) from investors.

investor confidence in Bitcoin and the crypto market as a whole has increased thanks to a series of positive developments globally. Last month, Hong Kong gave the green light to the Bitcoin ETF, while Australia welcomed its first BTC ETF earlier this week. In addition, the SEC also approved eight ETF Ether Spots last month.

Recently, the Thailand Securities and Exchange Commission (SEC) approved One Asset Management, a local firm, to introduce Thailand's first Bitcoin Spot ETF.

With the continued increase in institutional adoption and market confidence, this whale-accumulated trend could be a positive sign for the future spike in Bitcoin prices.