50% of Bitcoins Have Not Moved for Over 5 Years
According to Glassnode, the dominant strategy among investors is accumulation. Glassnode has reported that over 10.4 million Bitcoins have remained dormant for more than five years.
Furthermore, cryptocurrency analyst James Straten notes that of the circulating supply of 19.5 million Bitcoins, 1.8 million are held by hodlers who bought them five to seven years ago, while another 2.8 million were bought seven to ten years ago.
Additionally, 5.7 million Bitcoins have been held in wallets for over a decade, accounting for 53.3% of the total supply.
Glassnode believes that most of these coins are lost as a result of owners passing away or losing access to their wallets.
Despite this, the number of hodlers continues to grow, indicating that investors are waiting for BTC to reach a new high.
In September, the value of BTC experienced its first increase since 2016, rising by 4.7%. Despite challenges faced by the industry in the United States, Kaiko analysts noted that September was a successful month for cryptocurrency.
