About 70% of Bitcoin holders have chosen to hold. The increase in inactive numbers shows that the best strategy for buying bitcoins is to hold. In this post, we will check the latest statistics of digital currency holders. Stay tuned with Pooyan Music site.
Approximately 69% of Bitcoins in circulation have been inactive for at least a year.
More than 13.3 million bitcoins (BTC), worth $388.7 billion, have been inactive on-chain for at least a year, according to data tracked by blockchain analytics firm Glassnode.
According to Bitfinex exchange analysts, this figure is equal to 68.54% of the circulating supply of 19,451,256 bitcoins. A statistic that shows a continued bias to hold digital currency for long-term gains. However, some inactive releases may contain missing coins. This level reached its highest level of 69.2 percent two weeks ago.
The percentage of passive supply in circulation for at least two years recently hit a record high of 56%. 40% of which have been inactive for at least three years. Dormant coins are coins that have not been spent in a chain during the relevant period. This increasing figure indicates the reduction of the available supply in the market and the potential for a sharp increase in the price assuming the strengthening of the demand side.
“This trend, which reflects a common strategy of accumulation among long-term holders, indicates a strong belief in the long-term value of Bitcoin,” Bitfinex analysts said. Even amid the infamous slumps that have characterized the digital currency market over the past year.”
“This inherent shortage, coupled with rising demand, has the potential to push prices higher,” analysts said. “Unwavering faith in Bitcoin paints a bullish picture for the future of digital currencies. Only time will tell how these dynamics shape the market. But for now, that feeling of optimism is constant.”
Note that this metric also ignores the so-called monetization of Bitcoin over the years.
Financialization refers to changes in the way people invest in Bitcoin. Over the years, CME’s futures, cash, and exchange-traded funds (ETFs) have emerged as popular alternative investment vehicles that allow investors to gain exposure to cryptocurrency without owning it. These products, so-called liquid tradable proxies, also affect the price of digital currency.