Over 50% Of Bitcoin Supply Lying Down For The Last 2 Years
- More than half of Bitcoin’s supply is currently held by disciplined investors.
- Currently, the market is looking forward to the appreciation of the currency.
- Up to 15% of coins have not moved in the past decade.
Even after experiencing a severe mid-crypto winter drop in 2022, these wallet addresses are still not selling Bitcoin.
According to Glassnode statistics, more than half of the Bitcoin supply has not moved in the last two years. This implies that many people who purchased coins more than two years ago are still hanging on to them, unable to sell them.
The proportion of supply that was active more than two years ago has risen to an all-time high of 53%, demonstrating that Bitcoin investors remain bullish on the asset’s long-term prospects. Additionally, according to Pomp, an influencer on Twitter, about 29% of all BTC in circulation has been idle for the previous five years, while just under 15% has not moved in a decade.
From there, we can see that over 2,700,000 Bitcoin has been lost, forgotten, or are in the hands of the world’s most “disciplined investors.”
Besides, BTC’s holdings are decentralized, and regular investors have started to engage in the market. The number of BTC wallet addresses holding more than 100 coins dropped to a three-month low. As the market grows, we may expect to see greater decentralization and equality in BTC ownership, ordinary investors, and even sharks entering the market.
Bitcoin is presently not only the market’s biggest digital currency, but its applications, such as the NFT ordinals platform, have lately begun to be utilized. On April 8, Coinbase CEO Brian Armstrong also revealed that the cryptocurrency exchange will include Bitcoin’s Lightning network onto its platform. Others pushed Coinbase to speed up the integration process, fearing that given the present legal climate, the business would be left with nothing but Bitcoin.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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