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78% of Bitcoins in circulation not for sale

Bitcoin

It’s now becoming challenging to buy bitcoins, as about 78% of BTCs in circulation (18.9 million BTCs) is held by large entities that have been holding bitcoin as long-term investments.

READ: Bitcoin miners are super-rich, earn $1,000,000 per hour

What you need to know

Only 21 million BTCs are ever going to be produced in total and presently, there are about 18.9 million BTCs in circulation. This shows a differential of about 2.1 million BTCs that are left to be produced, not forgetting that about 4.5 million Bitcoin have been lost forever.

It also means that liquidity is drying up, as demand for the world’s most popular crypto hits record highs.

READ: Bitcoin’s transaction fees Jump by 344%

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A study by Glassnode, a crypto analytic firm, explained the reasons for the difficultly in buying Bitcoin:

READ: Crypto millionaire carts away with $224 million worth of Bitcoin

https://twitter.com/BKCoinCapital/status/1344684199119351809?s=20

READ: Unknown address moves 91,010 Bitcoins valued at $2 Billion in block 663,180

In addition, the crypto analytic firm calculated that a million Bitcoins (BTC) or almost $30 billion in actual prices, disappeared from the liquid supply in 2020. This process even outperformed the inflow of new Bitcoins (BTC) into the network:

READ: Tether whales move USDT 110,000,000 in 1 hour

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