Bitcoin at a bargain price: Whales hunt for bargains in the crypto market

Wale schwimmen im Meer

The crypto market hasn’t had it easy since the beginning of the year. Bitcoin and Co. are currently undergoing a severe correction. While some small investors look disappointed at their portfolios, it seems as if large investors continue to dig deep into the crypto pot.

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Bitcoin whales are stocking up

The mother of all cryptocurrencies is trading at around $24,182 at press time, down over 12 percent on the day. So it shouldn’t come as a surprise if some private investors panic – by the way, here are a few tips on how best to get through such a turbulent phase.

Nevertheless: data from the crypto analysis company glass node show that the number of Bitcoin addresses with at least 10,000 BTC continues to increase. For some large investors, the harsh trend towards the south may mean that they can secure coins at a bargain price.

The means of payment of the future?

In addition to the use case of Bitcoin as an investment product, the cryptocurrency naturally also has other applications. After the Central American country of El Salvador made the move towards BTC as legal tender, the industry followed suit on a smaller scale.

At the latest with the Shopify integration of the Bitcoin payment app Strike opened the door to millions of merchants who can now accept payments via the Lightning Network through their online store.

And those who are not yet accepting crypto payments are most likely thinking about doing so soon. At least that is the conclusion of a report by the consulting company Deloitte.

According to this, almost 75 percent of the retailers surveyed plan to accept payments with cryptocurrencies within the next two years. Almost half (47 percent) stated that enabling payments with Bitcoin and Co. was a “very high priority” for them.

The survey was conducted by Deloitte between December 3rd and 16th, 2021 among 2,000 senior executives from the retail sector.

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