The number of Bitcoin (BTC) addresses with more than 1 Bitcoin (BTC) has reached 784,000, which is up 11% since last year. Since 2015 the number of addresses with more than 1 Bitcoin (BTC) has doubled.
This indicates an increase in Bitcoin (BTC) HODLING, which should theoretically increase the price of Bitcoin (BTC) long term. This is due to the law of supply and demand, and if more Bitcoins (BTC) are being HODLED, then less Bitcoins (BTC) are available on the market, and in the presence of constant or increasing demand the price of Bitcoin (BTC) would go up.
Further, the number of addresses with more than 10 Bitcoins (BTC) and more than 1,000 Bitcoins (BTC) have also been growing. This perhaps suggest an increase in institutional investors, and could also suggest an increase in the number of crypto corporations, exchanges, and platforms.
Overall, Bitcoin (BTC) is being HODLED more now than ever before. With a block halving coming in May which will significantly reduce the market supply of Bitcoin (BTC), it seems conditions are ripe for a long term Bitcoin (BTC) price increase.