BTC’s Long-Term Holders Increase Supply Volume to Record High

03/15/2023 09:43 • Metaverse Matters • 132 views

According to reports, according to data from Glssnode, the supply volume of BTC that has been active for over 10 years has just reached a record high of 2658567.739 BTC.

BTC’s last active supply for more than 10 years has reached a record high

Analysis based on this information:

Glssnode, a blockchain data analytics provider, has reported that the supply volume of Bitcoin (BTC) that has been active for over 10 years has hit a record high of 2658567.739 BTC. This represents an increase in supply volume by BTC long-term holders, who seem to be more bullish than ever about the world’s number one digital currency.

It is important to note that the BTC supply volume data that Glssnode provides measures the amount of BTC that has remained dormant for over a decade. In other words, these long-term holders have not moved their BTC holdings for at least ten years. However, it does not necessarily mean that they are not trading or using the cryptocurrency for other purposes.

The data from Glssnode shows that the BTC supply that has not moved for over a decade started rising consistently since March 2019. This could be the result of the increasing demand for BTC from institutional investors, who are starting to recognize and invest in the digital currency as a hedge against inflation and geopolitical risks.

Furthermore, the rise in the BTC supply volume from long-term holders could signal their confidence in BTC’s long-term value as a store of value asset. The fact that they are holding onto their BTC holdings for over ten years indicates that they believe that it will continue to appreciate in value in the years to come.

Moreover, it is also possible that some of these long-term holders are whales and key players in the industry who are deliberately holding onto their BTC holdings to manipulate the market in their favor.

However, regardless of the reason for the increase in BTC supply volume from long-term holders, it is clear that BTC is becoming increasingly popular as a long-term investment option. As more institutional investors and high net worth individuals invest in BTC, retail investors may follow suit, further driving up the demand and value for BTC in the long term.

In conclusion, the increase in the BTC supply volume from long-term holders to a record high, according to Glssnode’s data, could indicate a renewed bullish sentiment among BTC holders. This, coupled with the increasing institutional investor demand, could see BTC soar to new heights in the coming years.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/5648.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

BTC’s Long-Term Holders Increase Supply Volume to Record High

BTC’s last active supply for more than 10 years has reached a record high

Related recommendations