According to a report from Fidelity Digital Assets, the number of wallets holding at least $1,000 worth of Bitcoin has increased by 20% since the beginning of 2024.
Amidst the crypto market downturn, Bitcoin has also not been spared from the bearish trend. At the time of writing, although BTC is seeing a 0.5% dip in the last 24 hours, there’s been a positive metric concerning the top asset.
The latest report coming from digital financial services company Fidelity Digital Assets, emphasized that the number of BTC wallets holding $1,000 or more has jumped by 20% since the start of 2024.
Connecting this to a positive outlook for BTC, Fidelity stated that the consistent accumulation in small addresses reached a record 10.6 million as of March 13.
Notably, the number of wallets holding at least $1,000 worth of BTC in 2023 was 5.3 million, Fidelity reported that the current wallet count has increased by 100%.
However, Fidelity also noted that the amount of Bitcoin held on exchanges has declined since its peak in 2020.
Suggesting that this trend continued throughout the first quarter of 2024, the analysts shared that exchange BTC balances have reduced to around 2.3 million BTC.
