The growing trust in Bitcoin (BTC) as a store of value is leading to an increase in the number of long-term “BTC Holders”. According to the latest reports from Glassnode, a leading blockchain analytics firm, Bitcoin holders who have held their assets for extended periods are hitting all-time highs.
Glassnode reveals new highs
Recent data from Glassnode indicates that the number of BTC held by these holders has reached an impressive high of 14.6 million. In just the last week, these wallets have received an increase of 43,949 BTC, equivalent to approximately $1.274 billion.
Who are considered long-term “BTC Holders”?
Those investors who have held their BTC for a minimum of 155 days fall into the category of long-term holders. These users, often referred to as HODLers, based on historical data, rarely dispose of their assets, reflecting a deep commitment and confidence in the future of cryptocurrency.
Persistent dominance in the BTC market
The Bitcoin market is heavily influenced by these “BTC Holders”. In February, they controlled up to 78% of the total supply. Such dominance illustrates the growing trend of investors seeing BTC not only as an investment asset but also as a store of value for the future.
Low volatility: A sign of maturity
Another noteworthy aspect is the decline in Bitcoin’s historical volatility. This indicator measures price fluctuations in a given period of time. An on-chain analyst from Glassnode noted that volatility has dropped to its lowest levels, which can be interpreted as a sign of maturity and stability in the BTC market.
BTC price evolution
Despite reaching a high of over $31,500 in mid-July, likely buoyed by a flurry of Bitcoin ETF applications, the value of this cryptocurrency fell 4.3% last month. Bitcoin is currently trading at $29,052, showing a slight increase of 0.06% in the last 24 hours, according to CMC data.
This new high in long-term “BTC Holders” reinforces the perception of Bitcoin as a robust and reliable asset, even in times of price fluctuations. With more and more investors choosing to hold for the long term, the future of Bitcoin looks brighter than ever.
