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Home Markets Cryptos

Long-time investors of Bitcoin are hoarding

Olumide Adesina by Olumide Adesina
March 29, 2021
in Cryptos, Markets
BTC Whales, Bitcoin is scarce, entities, individuals hold for long term, How Cryptocurrency-Based Companies Like Patricia are Shaping the Digital Currency Market in Nigeria, How Bitcoin Comes in Handy in Moments of Uncertainty, Long-time investors of Bitcoin are hoarding
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Long-time investors of the world’s most popular Crypto are refraining from selling their holdings amid the fact that Bitcoin has rallied by more than 800% within a year.

According to Glassnode’s “BTC Percent Supply Last Active 2+ Years” indicator, Bitcoin was last moved well over two years ago and reached a three-month low of 45.364%.

READ: Bitcoin posts highest monthly transfers ever

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This comes as no surprise as the world’s most popular crypto attracts significant buying pressure from leading global brands that include Tesla, Microstrategy, and Square.

Also, research by Nairametrics reveals that oftentimes, when this type of investors deposit Bitcoin on Crypto exchanges to sell immediately, they eventually don’t sell these assets as the number of entities holding them remain concentrated.

Adding credence to such bias is data from Crypto quant revealing that another $654 million worth of Bitcoin (12,300 BTC) has left Coinbase.

READ: Bill Gates says he doesn’t own Bitcoin, remains neutral about crypto

According to @cryptoquant_com, another $654 million worth of #Bitcoin (12,300 BTC) has left Coinbase pic.twitter.com/teukac9WPh

— Bloqport (@Bloqport) March 26, 2021

The number of retail investors keen on holding the world’s most popular crypto asset is on record high as Bitcoin’s number of addresses holding 0.1+ Coins just reached an all-time high of 3,223,643.

📈 #Bitcoin $BTC Number of Addresses Holding 0.1+ Coins just reached an ATH of 3,223,643

View metric:https://t.co/hZY8dBLpzX pic.twitter.com/CudvF5MHrO

— glassnode alerts (@glassnodealerts) March 29, 2021

As Bitcoin’s Percent Unspent Transaction Output in Profit (7d MA) just reached a 1-month low of 96.606%.

The $trillion dollar crypto asset at the time of writing this report traded at $56,186.41 with a daily trading volume of $48 Billion. Bitcoin is up 0.17% for the day.


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Tags: Bitcoincrypto
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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