Bitcoin Wallets with 0.1 BTC is increasing

April 30, 2020 – As the bitcoin halving draws near, a new report suggests that the number of users with at least 0.1 BTC, worth Php 44,000 (US$ 875) as of press time, is increasing.

According to data firm Glassnode (requires a subscription to view), these bitcoin addresses with atleast 0.1 btc began to increase around February. News website Coindesk noted that it coincided with the news that the US Central Bank may not have the ability to fight the next recession.

Read More: Bitcoin Halving: What happens before and what happens next

The number of bitcoin addresses with 0.1 BTC is correlated to the idea that there is an increasing number of small bitcoin investors just before the halving. The bitcoin investment service firm Swan Bitcoin in Los Angeles confirmed an “uptake” in customers saving at least $300 per month in bitcoin. A bitcoin brokerage firm River Financial said the number of orders in their platform doubled since mid-March and has increased since then.

Taking place around May 2020, the Bitcoin halving is a significant event wherein the number of bitcoins given during block rewards will again be reduced in half. Previously, it was 12.6. After halving, it will only be 6.25. This event happens every 4 years until all 21 million bitcoins are mined in the year 2140.