More than 53% of bitcoins have not been moved for two years
This is a new historical high for the first cryptocurrency activity metric
10.04.2023 - 14:45
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What’s new? Over the past two years, more than 53% of BTC’s circulating supply has been inactive. As Anthony Pompliano, co-founder of hedge fund Morgan Creek Digital, noted, citing data from analytics service Glassnode, this is a new historical high for this metric. He also pointed out that nearly 29% of all bitcoins in circulation have not moved in five years. According to Pompliano, the market capitalization of inactive coins exceeds $150 billion.
More than 1 out of every 2 bitcoin in circulation has not moved in the last 2 years.We hit a new all-time high of 53% today. pic.twitter.com/W6GzopMAtu — Pomp 🌪 (@APompliano) April 10, 2023
BTC situation. The entrepreneur reported that, according to Glassnode, just under 15% of all bitcoins in circulation have not moved in ten years. In addition, more than 2,7 million BTC is “lost, forgotten, or in the hands of the most disciplined investors in the world.” At the beginning of the year, the number of bitcoins that have not been used in more than 10 years exceeded the total amount of the asset on all crypto exchanges.
Number of BTC inactive for more than 10 years exceeded the volume of coins on exchanges
The total value of dormant bitcoins exceeds $72 billion
As of April 10, 14:40 UTC, bitcoin is trading at $28 300, having gained 1,54% in 24 hours, according to Binance. The asset’s market capitalization has approached $546,6 billion.
Earlier, analysts at Santiment noted an increase in the number of long-term bitcoin holders. In their view, this may indicate the beginning of a bull market.
Pompliano said in October 2022 that clear crypto regulations would ensure capital flows into the industry. At the time, he reported six major banks ready to start working with digital assets if the government approves.
Billionaire Tim Draper calls BTC protection against bank failures
The entrepreneur warned that companies “can no longer rely” on one institution or governing body to manage money
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