Crypto News

Long-term Bitcoin investors reach an all-time high of 14.599 million

Glassnode reveals a remarkable surge in the number of Bitcoins held by long-term investors

Glassnode, a leading blockchain analytics company, has unveiled a groundbreaking report that reveals a remarkable surge in the number of Bitcoins held by long-term investors, reaching an all-time high of 14.599 million.

This surge, which amounts to a staggering 43,949 Bitcoins (approximately $1.274 billion) added to these wallets in the past week, signifies a profound shift in investor behavior and confidence within the cryptocurrency landscape.

Bitcoin addresses that have steadfastly held onto their investments for a minimum of 155 days are now recognized as long-term holders, often affectionately referred to as “HODLers.”

Glassnode underscores the historical data, affirming that such addresses are notably resistant to selling tendencies. This growing cohort of HODLers speaks to the resilience of the Bitcoin community and its belief in the cryptocurrency’s enduring value.

A staggering revelation comes to light as it’s disclosed that a remarkable 75% of the circulating Bitcoins are under the guardianship of long-term holders.

This phenomenon highlights a decisive trend among investors as they opt to preserve and accumulate their assets for the foreseeable future.

This strategic choice to embrace a long-term outlook echoes a profound trust in Bitcoin’s potential as a steadfast store of wealth.

The dynamics of the Bitcoin network underwent a significant transformation in February, with long-term holders exerting dominance by controlling up to 78% of the total supply.

This compelling statistic underscores the persistent trend of prolonged asset retention and its profound impact on the cryptocurrency ecosystem. The growing conviction in Bitcoin’s prowess as a reliable store of value continues to fuel this enduring phenomenon.

In a parallel development, Glassnode’s on-chain analysts reveal a significant milestone: Bitcoin’s historical volatility has plummeted to unprecedented lows.

Historical volatility, a metric gauging price oscillation within a specific timeframe, is marked by a remarkable reduction. This newfound stability further fortifies the case for Bitcoin’s role as a dependable and less volatile investment option.

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Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.