In a recent report, Coin Metrics gave an overview of the king coin’s general trajectory for 2021. According to the report, Bitcoin added more than $300 billion to its general market valuation. In addition to this, the report said there was a 100% increase in the number of daily active addresses. Also, the number of addresses with at least 0.01 BTC increased by more than 700k.
According to the report, and many crypto analysts, the impressive rise in the price of Bitcoin is directly tied to an increase in institutional investors. Firms such as MassMutual and Square pumped $100 million and $50 million into Bitcoin, respectively. Intelligence company MicroStrategy also made Bitcoin its primary reserve asset.
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