In a recent report published by Bitfinex, it was revealed that more than 68.45% of the total supply of Bitcoin, or 13.27 million of the 19.4 million BTC in existence, has been dormant for over a year.
This growing trend is a strong indication of a change in attitudes towards Bitcoin ownership. Another important indicator that highlights the long-term accumulation trend is the milestone reached this week, when the number of addresses with 1 BTC crossed the 1 million mark.
The data suggests that these investors have gradually increased their holdings since mid-2021, with little or no apparent reversal in the upward trajectory of their 1-BTC wallets.
This trend will be even more pronounced in 2022 amid a market downturn, leading to a 20% increase in this group.
Bitfinex reiterated its earlier analysis that Bitcoin may be in the early stages of a bull market, as long-term Bitcoin holders remain undaunted despite the current market decline.
The upward trend in long-term holdings, combined with the rise of whales and the benefit of increased transaction fees for miners, paints a picture of a resilient Bitcoin ecosystem.
The data provides insights into the evolving landscape of Bitcoin ownership and market sentiment around it.
With a significant portion of the total supply unchanged for more than a year, this suggests that more and more investors are taking a long-term approach and showing faith in Bitcoin’s future.
These steady holders contribute to the stability of the cryptocurrency ecosystem when the market fluctuates.
Additionally, the increase in 1 BTC addresses indicates a growing user base and increased interest from private investors.
Passing the 1 million milestone marks a remarkable achievement and demonstrates Bitcoin’s growing accessibility and appeal to a wider audience.
Bitfinex’s report reveals a long-term growth trend of Bitcoin accumulation, with more than 68.45% of the total supply stagnant for more than a year.
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