Bitcoin Address Boom May Mask Security Worries Amid Whale Activity

Bitcoin's active address count has surged to 0.98 million daily, according to Glassnode data. This spike may not necessarily be a sign of renewed investor demand but rather security concerns.

The increase in active addresses is partly due to Coldcard users moving funds into newly created wallets after the firmware exploit became public.

This has resulted in on-chain transactions being pushed to their highest level since December 2024, further contributing to the surge in active addresses.

In related news, a Bitcoin OG whale transferred 49.97 BTC worth approximately $3.23 million, received in July 2011 when the price averaged around $10. Over the holding period, the value has increased by over 634,000%.

Another early investor moved 50 BTC worth about $3.22 million after ten months of inactivity, sending funds to a new wallet and potentially signaling preparation for an OTC sale.