Glassnode has unveiled data indicating a surge in the number of Bitcoins held by long-term investors, soaring to an impressive 14.599 million.
This significant accumulation accounts for a substantial addition of 43,949 Bitcoins, valued at nearly $1.274 billion, to these wallets in just the past week.
The findings shed light on the growing trend of prolonged Bitcoin holding and its potential implications for the cryptocurrency landscape.
Addresses that have securely housed Bitcoins for a period exceeding 155 days fall under the category of long-term holders.
Glassnode’s analysis suggests that these addresses demonstrate a historical pattern of resilience against selling pressures, earning them the moniker of “HODLers” within the crypto community.
The commitment displayed by these holders underpins their faith in the cryptocurrency’s long-term potential.
A striking revelation emerges from the data: a substantial 75% of the total Bitcoin supply in circulation is under the ownership of long-term holders.
This remarkable figure underscores a prevailing sentiment among investors to safeguard their assets for the foreseeable future, potentially indicating a collective belief in Bitcoin’s enduring value.
A closer examination of historical trends reveals that long-term Bitcoin holders exerted their dominance over the network during the month of February, controlling an impressive 78% of the total supply.
This persistent trend speaks to the increasing trust in Bitcoin’s ability to serve as a reliable store of wealth, propelling more investors towards sustained, strategic holding strategies.