The Rise of Unmovable Bitcoin: A Record High of 53% in the Past Two Years

04/10/2023 07:20 • Metaverse Matters • 132 views

On April 10th, Morgan Creek founder Anthony Pompliano cited Glassnode data and stated on Twitter that the supply of unmovable Bitcoin in the past two years has reached a record high of 53%. In addition, nearly 29% of circulating Bitcoins have not moved in the past 5 years, while nearly 15% of circulating Bitcoins have not moved in the past decade.

Data: The supply of unmovable Bitcoin in the past two years has reached a record high of 53%

The world of cryptocurrency has been constantly changing over the past few years, with new developments and trends emerging all the time. One such trend that is gaining attention is the rise of unmovable Bitcoin. According to Glassnode data cited by Morgan Creek founder Anthony Pompliano on April 10th, the supply of unmovable Bitcoin has reached a record high of 53% in the past two years. In addition, nearly 29% of circulating Bitcoins have not moved in the past 5 years, while nearly 15% of circulating Bitcoins have not moved in the past decade. This article will explore what unmovable Bitcoin is, why it is increasing, and what it means for the future of the cryptocurrency market.

What is Unmovable Bitcoin?

Unmovable Bitcoin refers to the coins that have not been moved from their current address in a long time, typically several years or more. When Bitcoin is moved from one address to another, it is recorded on the blockchain, which is a public ledger that stores all transactions. The movement of Bitcoin can be tracked through the blockchain, allowing analysts to see how much Bitcoin is being used for transactions or being held as an investment.

Why is Unmovable Bitcoin Increasing?

There are several reasons why the supply of unmovable Bitcoin is increasing. One reason is that more people are buying and holding Bitcoin as a long-term investment. Bitcoin has been known to be a volatile asset, but over the past few years, its value has been steadily increasing. Many people see Bitcoin as a hedge against inflation and are using it as a store of value, similar to gold. This means that they are buying Bitcoin and holding onto it in the hopes that its value will continue to increase.
Another reason for the increase in unmovable Bitcoin is that many early adopters of the cryptocurrency, who bought it when it was much cheaper, are now holding onto it as a long-term investment. These early adopters tend to have a large amount of Bitcoin, and their holdings account for a significant portion of the total unmovable Bitcoin supply.

What does the Rise of Unmovable Bitcoin Mean for the Future of the Cryptocurrency Market?

The increase in unmovable Bitcoin has several implications for the future of the cryptocurrency market. One implication is that the total amount of liquid Bitcoin available for trading or transactions is decreasing. This means that there may be less Bitcoin available to buy and sell on exchanges, which could lead to increased volatility and price swings. It could also make it more difficult for Bitcoin to be used as a medium of exchange for goods and services.
Another implication is that the rise of unmovable Bitcoin could lead to more wealth inequality within the cryptocurrency market. The early adopters who hold large amounts of Bitcoin may benefit from the increase in value, while newer investors who are buying Bitcoin at higher prices may not see the same returns. This could create a scenario where the cryptocurrency market becomes more concentrated in the hands of a few large holders.

Conclusion

The rise of unmovable Bitcoin is a trend that is worth watching in the cryptocurrency market. While it may signal investor confidence in the long-term potential of Bitcoin, it also comes with potential downsides such as reduced liquidity and increased wealth inequality. As the cryptocurrency market continues to evolve, it will be interesting to see how this trend develops and what it means for the future of Bitcoin and other digital assets.

FAQs

Q: What is the difference between unmovable and lost Bitcoin?
A: Unmovable Bitcoin refers to coins that have not been moved in a long time, while lost Bitcoin refers to coins that have been lost due to people forgetting their private keys or wallets.
Q: Why are people buying Bitcoin as a hedge against inflation?
A: Bitcoin is a decentralized currency that is not controlled by any government or central authority. This means that its value is not affected by inflation in the same way that traditional currencies are.
Q: What is the current price of Bitcoin?
A: As of writing this article, the current price of Bitcoin is $55,000 USD.

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