Long-term Bitcoin holders control a record 14.599 million BTC
Long-term Bitcoin holders, who have held coins for at least 155 days, now control a record 14.599 million BTC, accounting for 75% of Bitcoin’s circulating supply. This suggests that investors are choosing to hold onto their assets for extended periods of time. In February, long-term holders controlled as much as 78% of the network’s circulating supply, indicating a growing belief in Bitcoin’s potential as a store of value.
Realized volatility for Bitcoin hits historic lows
The realized volatility for Bitcoin has plunged to historical lows, according to Glassnode analyst Checkmate. This low volatility is typically seen during post-bear-market hangover periods, suggesting a re-accumulation phase. Realized volatility refers to the price volatility an asset experiences over a specific period. Currently, Bitcoin is changing hands at $29,010, down 0.1% in the past 24 hours and 4.3% in the past month.
Bitcoin outperforms leading stock indexes
Despite recent fluctuations, Bitcoin is up 75% since the start of the year, outperforming leading stock indexes such as Nasdaq Composite (+33% YTD), S&P 500 (+17% YTD), and Dow Jones (+5.82%). While it has experienced a dip in the past month, Bitcoin’s long-term performance showcases its resilience and potential as an investment.
Hot Take: Bitcoin holders show confidence in the leading cryptocurrency
The increasing control of long-term Bitcoin holders over the circulating supply, coupled with the historic lows in realized volatility, indicates a growing belief in Bitcoin’s stability and potential. Despite short-term fluctuations, Bitcoin continues to outperform traditional stock indexes, showcasing its status as a valuable investment option. The sustained pattern of long-term holding suggests that investors see Bitcoin as a store of value and are willing to hold onto their assets for extended periods of time.
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