In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This interesting piece by Olga Kharif published on Bloomberg reports that active digital wallets are on the rise even before this week’s bitcoin spike. Read on.
“Small-fry investors were already stirring before this week’s surge in digital coin prices.
In the prior two weeks, a high number of electronic storage accounts known as digital wallets holding Bitcoin became active, according to market intelligence firm Flipside Crypto. While 40 percent to 50 percent of all Bitcoins are usually sitting in wallets that have been inactive from one to six months, the average has been about 10 percent since March 15, the firm found.
“If you are a crypto optimist, that’s good news,” said Eric Stone, co-founder and head of data science at Boston-based Flipside. “There are more people warming up to the idea of buying Bitcoin.”