Summary:
The cryptocurrency data intelligence provider Glassnode has found that almost 30% of bitcoin’s circulating supply has not been active for more than five years. This means that a significant amount of bitcoin, totaling 5.67 million BTC, has remained dormant since 2017 or longer. Glassnode’s data suggests that long-term holders are choosing to keep their bitcoin untouched rather than transferring or selling it. The percentage of BTC supply inactive for over five years has recently reached an all-time high.
Key Points:
– Glassnode estimates that approximately 29.14% of bitcoin’s circulating supply has not been active for five or more years.
– 5.67 million BTC have remained dormant since 2017 or longer.
– Long-term holders are choosing to leave their bitcoin untouched instead of transferring or cashing it out.
– BTC Percent Supply inactive for over five years has recently reached an all-time high of almost 30%.
– The percentage of inactive BTC supply has been steadily increasing in the past several months.
Hot Take:
The increasing number of long-term bitcoin holders choosing to keep their assets untouched suggests a growing confidence in the future value of the cryptocurrency. This trend may indicate a shift in investor behavior towards treating bitcoin as a long-term investment rather than a speculative asset. It also highlights the potential scarcity of bitcoin in the market, which could contribute to future price appreciation.
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