Bitcoin: $160 Billion Added by HODLers! A Record
The Bitcoin market is undergoing a significant transformation with a record increase in the supply held by long-term investors. According to recent data, between July 18 and August 14, 2024, approximately 284,740 BTC were added to the supply held by these investors, representing over $160 billion!
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Bitcoin: record growth in long-term holdings
Bitcoin is experiencing a record growth in the supply held by HODLers. This trend is closely linked to the growth of Bitcoin ETFs, which seem to play a crucial role in the increase in long-term supply. This rise suggests that investors prefer to hold onto their assets rather than sell them, thereby strengthening market stability.
At the same time, the crypto market has experienced turbulence, with significant drops in the value of BTC and other digital assets. However, this growth in long-term supply indicates resilience and continued confidence in Bitcoin’s long-term potential. Investors appear to be adopting a “HODLing” strategy, preferring to hold their assets despite market fluctuations. These HODLers now control about 75% of Bitcoin’s circulating supply.
The data also shows that illiquid entities, meaning network participants with little or no spending history, continue to accumulate BTC. The number of bitcoins held by these entities has increased by more than 90,000 BTC this month. This suggests a decrease in selling pressures and continuous accumulation, which could further stabilize the market in the long term.
BTC investors are optimistic!
This dynamic contrasts with the recent challenges in the crypto market, where stricter regulations and a decline in investor confidence have led to price drops. Despite these challenges, the growth in long-term supply shows that many investors remain optimistic about Bitcoin’s future.
The record growth in the supply held by long-term investors is a positive sign for the Bitcoin market. It reflects renewed confidence and a long-term investment strategy, despite the current market turbulence. This trend could play a key role in the stabilization and future growth of Bitcoin.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.