20% Of Bitcoin’s Supply Hasn’t Moved In 7 Years: Report

20% of bitcoin’s supply hasn’t moved In 7 years as the new reports show with the BTC price appreciating as the market is swamped with buyers. Those that own a chunk of the cryptocurrency are holding strong and are not selling but the data shows that nearly 20% of the entire circulating supply hasn’t moved in seven years so let’s read more in our latest bitcoin news.

BTC is having a hard time getting back above $50K currently but will not be long before it does. The available supply of BTC on exchanges is at an extremely low and what’s left is being bought by institutions at a rate of 13,000 BTC each week on Coinbase Pro. The corporations are also buying BTC and are planning to hold the volatile asset as an alternative to cash reserves because of inflation fears.
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Those that do buy into BTC have a plan to hold for a set amount of time or have a certain price in mind.

Most of the crypto analysts expect the price to hit hundreds of thousands by the time the bull cycle ends so with the investors keeping this in mind, they will not sell at any price below it. Miners were selling but even that started to end and the ultimate goal remains for most participants to try and sell as close to the top as possible to make the biggest profit there is. That makes the holding threshold four years or less.

At some point, the cryptocurrency would have gone through two bear and bull cycles and increased from $1000 to $50,000. Maybe holding these coins at poor timing will make the investors stuck on holding all the way down but maybe they have a long-term plan in mind. The 20% of bitcoin’s supply seems to be lost forever however and a huge portion of these holding seven years or more, have been at it for longer. The longer the coins are held the bigger the chances are to have locked them away. Satoshi’s coins are also among the wallets that contain more than 1M BTC which hasn’t moved in a long time and could be gone forever.