Benzinga - Bitcoin (CRYPTO: BTC) holders are hunkering down, with more than half of the supply remaining dormant over the past two years, according to on-chain analytics provider Glassnode.
What Happened: In fact, the percentage of supply that was last active more than two years ago has reached an all-time high of 53%, suggesting that many long-term investors are now reluctant to sell their Bitcoin.
Pomp Investments’ Anthony Pompliano tweeted that approximately 29% of all Bitcoin in circulation has not budged in the last five years. He said that this amounts to over $150 billion in market cap, which has remained unmoved for half a decade or more.
If you take it a step further, almost 29% of all bitcoin in circulation have not moved in the last 5 years.That is over $150 billion in market cap that hasn't moved in half a decade. pic.twitter.com/33bivFYudV
— Pomp