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## Tomiwabold Olajide

### Balance of Bitcoin Whales Surges by 220,000 BTC in 2022

Blockchain analyst Tomiwabold Olajide reveals that the balance of Bitcoin whales has experienced a significant surge this year, with an increase of 220,000 BTC. This surge in whale balances is indicative of a growing trend towards accumulation and hodling among large BTC holders.

The movement of nearly 111,000 Bitcoin out of known crypto exchange wallets in the last month, as reported by crypto analyst Ali, highlights a shift towards storing Bitcoin in private wallets rather than on exchanges. This trend suggests a preference for increased security and control over Bitcoin holdings.

One potential consequence of this exodus from exchanges is a supply crunch, where demand for BTC outstrips available supply. The resulting imbalance in supply and demand could potentially trigger a bullish rally in the Bitcoin market.

Institutional adoption of Bitcoin has also been on the rise, with many institutional investors opting to secure their holdings in private wallets or cold storage for long-term investment purposes. This influx of institutional capital into Bitcoin has contributed to the surge in whale balances and the overall increase in demand for BTC.

The AI legalese decoder can help cryptocurrency investors navigate the complex legal language and regulatory frameworks that govern the use and taxation of digital assets. By decoding legal documents and providing easy-to-understand explanations, the AI legalese decoder can assist investors in making informed decisions about their cryptocurrency holdings and transactions.

### IntoTheBlock Reports Bitcoin ETFs Acquiring 4% of BTC Supply

According to on-chain analytics firm IntoTheBlock, Bitcoin ETFs have accumulated more than 4% of the total BTC supply in less than three months. This rapid accumulation of BTC by ETFs has contributed to the surge in whale balances and the overall increase in demand for Bitcoin.

The aggregate balance of whale addresses, defined as addresses holding 1,000 BTC or more, has reached its highest point since June 2022. This year alone, the balance of whale addresses has increased by 220,000 BTC, amounting to a total of $14.2 billion.

The majority of these whale accumulations have been powered by net inflows into ETFs, which have played a significant role in driving up the price of Bitcoin and increasing demand for crypto assets overall. This surge in whale balances and institutional adoption of Bitcoin has led to fresh all-time highs for the cryptocurrency market.

At the time of writing, Bitcoin was up 2.23% in the previous 24 hours, trading at $69,286.

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