Bitcoin Holders Have Kept Over 8.15 Million BTC off the Market in Recent Years

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Investing in Bitcoin is often a matter of playing the long-term game. This is evident when looking at the number of BTC not moving in the past two years, It is evident that a lot of holders are not intent on selling, even at the current BTC price.  

Bitcoin Holders Remain Confident

Owning any cryptocurrency often feels as if one is on a  rollercoaster ride. Prices can fluctuate on a daily or even hourly basis. For new investors and the proverbial “weak hands”, this creates a lot of uneasy market momentum. It takes a lot of courage and willpower to effectively hold a crypto asset throughout these price swings. With Bitcoin, that process is seemingly a lot easier for a lot of people. 

Looking at the long-term holders chart, an interesting trend appears. To this date, 44.204% of the circulating Bitcoin supply has not moved in the past two years. A remarkable trend, given the wild price swings Bitcoin has gone through ever since. The willpower of these long-term holders is exemplary. Owning this currency  and not being tempted to sell it during the extensive “crypto winter” requires genuine dedication. 

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BlocDesk BTC Holders
Source: Glassnode Studios

What is even more interesting is how fewer BTC has been moved in the past two years every day. Slowly but surely, these “stashes” are becoming more common. Currently, over 8.15 million BTC have not moved from their original address in over two years.

For a currency that is already scarce by default, this can have a significant impact on the BTC price. Whether that iimpact yields an increase or decrease, is a different matter altogether. 

Number of Active Addresses Remains High

Comparing this data to the active addresses in the same period, there is no apparent correlation. In fact, the number of active Bitcoin addresses seems to be rising again slowly. These represent unique addresses active either as a sender or a receiver. Some of these may belong to long-term holders, as people often create new addresses for different transactions. Address reuse has a major impact on user privacy, after all.

BlocDesk Bitcoin Unique Addresses
Source: Glassnode Studios

All of this shows the Bitcoin network is in a good place. The number of long-term holders is rising nicely, ensuring a chunk of the circulating supply isn’t available on the open market. Moreover, the unique address figures all look pretty healthy as well.