BTC’s last active supply for more than 5 years reached a record high
It is reported that according to the data of Glssnode, the percentage of supply of BTC that has been active for more than five years has just reached a record high of 28.215%.
Interpretation of this information:
The reported data from Glassnode shows that the percentage of Bitcoin (BTC) supply that has been active for over five years has reached an all-time high of 28.215%. This statistic is significant because it indicates that many long-term BTC holders are holding on to their investments and not selling, possibly because they have faith in Bitcoin’s future success.
Bitcoin is a decentralized digital currency that operates independently of banks and financial authorities. It uses a peer-to-peer network for transactions and is not subject to government regulations. BTC’s value is based on supply and demand, with a limited number of Bitcoins available for trade. The high percentage of BTC supply that remains inactive for over five years could suggest that people are confident in the future value of Bitcoin.
One possible explanation for this is that Bitcoin has gained wider acceptance in recent years, with many companies and institutional investors investing in the cryptocurrency. Additionally, there has been growing concern over inflation and the devaluation of traditional currencies, making Bitcoin an attractive alternative investment option for some.
Another possible factor is the advent of so-called “hodling culture,” where long-term holders of BTC believe in its value as an investment and resist the urge to sell during price dips or market turbulence. Hodlers’ strategy is to hold on to their Bitcoin for a longer period with an expectation that it will appreciate in value over time.
Overall, the retention of a growing percentage of BTC supply for over five years suggests that investors are optimistic about the cryptocurrency’s future prospects. This statistic may also indicate that Bitcoin is becoming a more mainstream investment option compared to its early years, where it was mostly associated with tech-savvy individuals.
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