The proportion of bitcoins that have not moved in the past two years has reached an all-time high of 53%. Glassnode data drew the attention of Morgan Creek Digital co-founder Anthony Pompliano.
More than 1 out of every 2 bitcoin in circulation has not moved in the last 2 years.
We hit a new all-time high of 53% today. pic.twitter.com/W6GzopMAtu
— Pomp
(@APompliano) April 10, 2023
The entrepreneur noted that for a five-year period, the figure is 29%, and for ten years – a little less than 15%.
Some commentators have suggested that many bitcoin holders have bought the asset at prices above current levels and are expecting a rise in order to turn a profit. Two years ago, in April 2021, the cryptocurrency was trading around $58,000 (CoinGecko). At the time of writing, quotes are close to $28,300.
Pompliano doubted that most owners of real estate bitcoins in recent years fall into this category.
Some people definitely fall into this category but doubtful that the majority of the 53% are waiting to sell at some breakeven price.
— Pomp
Earlier, Cane Island Alternative Advisors analyst Timothy Peterson stated that 6 million BTC were irretrievably lost – approximately 31% of the 19.3 million coins mined.
In April 2020, Coinmetrics calculated that 2.3 million BTC out of the 18.3 million BTC mined at that time were lost forever.
Source: bitcoinlinux.com
