{"id":428862,"date":"2020-06-29T08:31:49","date_gmt":"2020-06-29T08:31:49","guid":{"rendered":"https:\/\/uniquehot.com\/?p=428862"},"modified":"2024-06-11T13:19:14","modified_gmt":"2024-06-11T13:19:14","slug":"the-amount-of-bitcoin-that-hasnt-moved-in-a-year-hits-an-all-time-high","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/the-amount-of-bitcoin-that-hasnt-moved-in-a-year-hits-an-all-time-high\/","title":{"rendered":"The Amount of Bitcoin That Hasn’t Moved In a Year Hits an All-Time High"},"content":{"rendered":"
The number of Bitcoin that has not moved in over 12 months achieved a new all-time high. The statistic indicates investors are confident in the long-term trend of BTC.<\/p>\n
Dan Held, who leads business development at a top U.S. Bitcoin exchange Kraken, said<\/a>:<\/p>\n “61% of Bitcoin hasn’t moved in over a year. That’s an all-time high.”<\/p><\/blockquote>\n Other metrics generally suggest that the level of “HODLing”<\/a> has been increasing steadily since the start of 2020.<\/p>\n On March 13, the cryptocurrency market plummeted following a U.S. stock market crash. More than $160 billion in value was wiped out, as Bitcoin dropped below $3,600 on BitMEX.<\/p>\n Despite the “black swan” occurrence merely three months ago, investors remain highly confident in Bitcoin.<\/p>\n The 1-year supply of Bitcoin typically reflects investors who are holding Bitcoin with a long-term thesis. It includes investors that foresee Bitcoin evolving into a major store of value as gold 2.0 and those that see BTC as a hedge against inflation.<\/p>\n Retail or individual investors often store their Bitcoin on non-custodial wallets or exchanges, so they are identifiable. Institutional investors, however, gain exposure to BTC through strictly-regulated investment vehicles like the Grayscale Bitcoin Trust.<\/p>\n As such, the lack of movement in the Bitcoin supply that did not move for 1 to 3 years may reflect retail investors that are holding BTC.<\/p>\n The data point which shows an optimistic trend among retail investors coincides with rising institutional adoption.<\/p>\n The assets under management (AUM) of the Grayscale Bitcoin Trust is also at an all-time high. It is now well over $3.5 billion, surpassing the trust’s AUM in December 2017, when the price of Bitcoin was at a record high.<\/p>\nThe supply of Bitcoin that has not moved for more than a year hits an all-time high. Source: Glassnode<\/a><\/pre>\n
Following a “Black Swan” Event, Rising Long-Term Holders is Optimistic<\/h2>\n
The drop of Bitcoin to sub-$4,000 and its recovery since. Source: TradingView.com<\/a><\/pre>\n
Retail “HODLing” Coincides With Institutional Adoption<\/h2>\n