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Jafrin Ahmed
Mar 14, 2022
by Jafrin Ahmed

Institutions Account for 99% of Bitcoin Transactions Over $100,000

bitcoin
Institutional demand for Bitcoin (BTC) continues to grow even if there is not much reflected in prices. According to the latest report from IntoTheBlock, over 99% of bitcoin volume comes from cryptocurrency transactions over $100,000 fueled by institutional traders.

IntoTheBlock’s report reveals that institutional interest in cryptocurrency picked up pace since the third quarter of 2020, after which the share of the institutional transaction volume never went below 90%.

In fact, since 2020 Q3, companies like PayPal, Tesla, MicroStrategy heavily added the flagship cryptocurrency into their balance sheet, resulting in highs throughout 2021 with the former buying BTC as a strategic primary reserve asset.

Bitcoin Behaving Similarly to Equities

The report also states that while Bitcoin has historically recorded highs in tandem with institutional investment, it has recently behaved similarly to equities. Currently, both the stock and crypto market is experiencing the high impact of inflation in the U.S., accelerated by the Russia-Ukraine conflict.

Other significant on-chain data suggests the number of Bitcoin wallets with a non-zero balance has reached 40 million, while addresses holding an Ether balance crossed the 70 million mark.

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Institutions Account for 99% of Bitcoin Transactions Over $100,000
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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