Record Breaking Bitcoin Supply Stat
Recent data has revealed an interesting trend in the world of Bitcoin. A whopping 70% of Bitcoin has remained inactive, untouched for an entire year, breaking previous records. This indicates a strong commitment from Bitcoin holders who are unwilling to part with their cryptocurrency, especially given the current high prices.
Bitcoin’s Historic Inactive Supply
Despite the volatile nature of the crypto market, Bitcoin holders have displayed unwavering confidence in their investment. The percentage of dormant supply for two, three, and five years has hit all-time highs. This resolute stance is particularly astonishing considering Bitcoin’s surge to $37,000 this year. Even with the doubled value, long-term investors have shown no interest in selling. A staggering 70.35% of Bitcoin’s supply has remained untouched for at least a year, surpassing the previous record of 69.35% in July. This marks the first time in Bitcoin’s history that over 70% of the total supply has remained inactive, despite the substantial increase in value.
Reflexivity Research indicates that these holders have no intention of selling, even with the current high price levels.
Potential Changes in the Future
Despite the strong commitment portrayed by these HODLers, the landscape of Bitcoin’s inactive supply may see changes. With the introduction of spot-based ETFs and cash-settled futures, new market trends could potentially impact Bitcoin’s inactive supply. The future of Bitcoin remains uncertain, as the cryptocurrency continues to evolve amidst new developments in the financial market.
Hot Take: Bitcoin’s Inactive Supply Surpasses 70%
The notable increase in Bitcoin’s inactive supply, surpassing 70% for the first time in history, indicates a significant level of commitment and confidence displayed by long-term investors. This trend may pave the way for potential shifts in the cryptocurrency market as new financial products enter the scene, signaling a dynamic future for Bitcoin.
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