A Strong Metric for Bitcoin: 95% of Supply Stays Still
Even amidst the current crypto market downturn, there is a positive sign for Bitcoin. An infographic from Glassnode reveals that an astounding 95% of the existing Bitcoin supply has remained untouched for the past 30 days. This means that only a mere 5% is actively moving around. But what does this mean for you?
Well, imagine if there is a catalyst that sparks the interest of big investors who want to buy a significant amount of Bitcoin. The price of Bitcoin would skyrocket, thanks to the limited supply and increased demand. This is the beauty of economics in action.
Bitcoin’s scarcity is what makes it so intriguing. The remaining supply, after accounting for long-term holders and lost Bitcoin, is approximately eight million coins. This scarcity drives up the price of the remaining Bitcoin. And don’t worry, the scarcity isn’t a bad thing. It means that the price of what’s left will continue to rise, and even small movements in demand can have a significant impact.
Hot Take: Institutions Will Compete for the Scarce 5% of Bitcoin
As more institutions enter the crypto market, they will inevitably clash over the limited 5% of the Bitcoin supply that is actively moving. Meanwhile, legacy holders who have been patiently watching will witness this battle unfold. The scarcity of Bitcoin is truly mind-boggling, and it is this scarcity that contributes to its value.
So, get excited about Bitcoin’s potential. Its strong metric of 95% of supply staying still, combined with its scarcity, suggests that there is immense room for growth. As the demand for Bitcoin continues to rise, the price will follow suit. Keep an eye on this space and be ready for the next surge in Bitcoin’s value.
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