Bitcoin in circulation: Over 50% not moved in 2 years, Glassnode says
Some believe that investors who bought during Bitcoin’s all-time high price are waiting for the right time to sell.
More than half of Bitcoin (BTC) in circulation has not been touched for two years, according to data compiled by the crypto analytics platform Glassnode.
On April 10, crypto influencer Anthony Pompliano highlighted that 53% of Bitcoin’s circulating supply has been inactive in the last two years. Citing data published by Glassnode, Pompliano pointed out that this is a new all-time high for this specific metric tracked by the data platform.
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
In addition, the crypto entrepreneur also pointed toward other metrics such as Bitcoin, which has not been moved in 5 and 10 years. According to the data, almost 29% of Bitcoin’s circulating supply has not been moved in the last five years. This amounts to over 5.6 million BTC, worth around $158 billion at the time of writing.
Within the decade, around 2.7 million BTC, worth $76 billion, have not been touched. Pompliano commented that these Bitcoin could potentially be lost or are in the hands of “the most disciplined investors in the world.”
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Some community members believe that the data means that those who are holding bought when BTC was at an all-time high and are waiting for the right time to sell. On April 10, 2021, BTC was trading above $60,000, according to the coin information aggregator CoinGecko.
Meanwhile, the keyword “Bitcoin” recently topped the list of most popular search terms in the United States, suggesting that Americans have been curious about Bitcoin lately. The term surpassed other trending keywords, such as the former U.S. president Donald Trump and American singer Elvis Presley.
The increase in American search interest for Bitcoin follows an announcement by the United States Federal Reserve confirming the launch of the FedNow payments system. On March 16, the U.S. government said that the instant payments platform will be launched in July.
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