According to Glassnode’s figures, the Hodlers would control 63% of all Bitcoins ever mined, equivalent to 11.7 million BTC.
In the crypt world there are two types of users. There are the Bitcoin traders, who trade more or less frequently with the crypto currency in search of profit. And there are the Hodlers, long-term investors in BTC. Who keep their savings in virtual currency waiting for its price to rise before selling it. And today, it was revealed that Hodlers control 63% of all Bitcoins in circulation.
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What are Hodlers?
Since the birth of Bitcoin there has been a group of people who have believed in the project for the long term. Accumulating a significant amount of Bitcoin, and keeping it in their wallets. This is due to the conviction that cryptomoney will have a much higher value in the future, or that its use as a currency will become more widespread.
Those who carry out this activity are usually known as Hodlers. And after the big rally in 2017, when the price of Bitcoin briefly touched $20,000 per BTC, thousands of people have adopted this investment strategy.
Thanks to this, Bitcoin has been gaining a reputation over time as an active reserve of value. Because of the use it is given by the Hodlers, who trust that cryptomoney is an investment capable of maintaining and multiplying their capital. This has already begun to attract institutional investors, who through investment funds such as Grayscale, are acquiring millions of dollars in BTC daily.
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63% of the Bitcoins in circulation
This is how over time the Hodlers have become an increasingly important part of the crypto market. Currently, they account for 63.3% of all Bitcoin ever mined (11.7 million), as commented in a Tweet by the analysis firm Glassnode. This would mean that high-frequency trading with cryptomoney represents only a minority fraction of the overall market.
The confidence shown by the Hodlers in Bitcoin would be even more impressive when one sees the percentage of BTC’s total liquidity that has not been mobilized in more than 3 years. Thus, 31.4% of the world’s Bitcoins, equivalent to 5.8 million BTCs and about $61.55 billion, have been dormant during this time.
Hodlers control 63% of the Bitcoins ever mined. Source: GlassnodeHodlers control 63% of the Bitcoins ever mined. Source: Hodlers: Glassnode
These figures would be important for a crypt currency that from time to time faces criticism both inside and outside the crypt market. This demonstrates the confidence that BTC users have in the value of cryptomoney, and in its future growth. This can be a determining factor in defining the trend of Bitcoin’s market price.