Number of Bitcoin wallets holding 100–1K BTC soars after Tesla’s $1.5B buy-in By Cointelegraph

Tesla fully embraces Bitcoin, now accepts it as a payment option for its cars By BTC Peers

Number of Bitcoin wallets holding 100–1K BTC soars after Tesla’s $1.5B buy-in

The amount of (BTC) held by whales increased by around 14% after Tesla (NASDAQ:) announced its foray into the cryptocurrency sector in early February 2021.

The latest data from on-chain analytics platform Glassnode shows an inflow of roughly $19.5 billion worth of Bitcoin — according to current exchange rates — into wallets that hold at least 100 BTC and a maximum of 1,000 BTC. The deposits spiked right after Tesla revealed in its January securities filings that it had added $1.5 billion worth of BTC to its balance sheet.

USD index shows erratic inverse correlation with Bitcoin after March 2020. Source: TradingView
The Glassnode BTC supply metric shows signs of stabilization following latest crash. Source: Glassnode
Entities with 1K–10K BTC balance dropped after Tesla’s Bitcoin investment. Source: Glassnode