© Reuters. Bitcoin on the rise: number of holders reaches highest level since 2021
CriptoFácil – The strong appreciation of (BTC) is a result of the increase in demand for cryptocurrency. In fact, the numbers are growing in 2023 and reaching the highest levels of accumulation since January 2021.
According to market intelligence platform Santiment, the number of Bitcoin investors who become long-term holders has grown. Currently, the number of addresses that have not moved any BTC in recent months has reached 45 million.
Furthermore, Glassnode has determined that over 50% of all BTC in circulation has not moved in the past two years. That is, they are investors who are not willing to sell their cryptocurrencies despite the strong increase of almost 80% recorded in the year.
Nearly 45 Million Bitcoin HODLers
As analyzed by Santiment, the total amount of individuals and entities that have held BTC for at least two years has risen to nearly 45 million, and the numbers have been increasing at the fastest pace since the start of 2021 (January 2021 to April 2021). .
Santiment’s chart shows an exponential growth line, particularly from November 2022. Long-term holders have grown by about 15% since November 2021, when the number was less than 40 million.
It is noteworthy that between January and April 2021, BTC was in the midst of a bullish rally. The price was $30,000 in January, exactly the same as it is now. But ten months later, one BTC was worth nearly $65,000, a growth of over 115%.
At the end of April 2021, there were approximately 38 million HODLers, while currently their number is approaching 45 million.
Another chart that indicates many traders prefer to keep their stock untouched was presented by the analysis platform Glassnode. It showed that 53% of the total BTC supply has not moved in the last two years. That is, 10.229 million of the 19.343 million BTC.
Furthermore, almost 30% of the total supply has not moved in the last five years, while less than 15% has been immobile for at least ten years.
Bear market presented opportunities
While the prolonged bear market did significant damage to a number of organizations and triggered a sharp drop in the market, it also offered investors a chance to increase their exposure to BTC at relatively lower costs.
In the last year, addresses containing more than 1 Bitcoin have risen to nearly a million. The sharp increase occurred mainly between the summer of 2021 and the beginning of 2023.
In fact, the numbers skyrocketed right after the collapse of the FTX exchange, which spurred many users to hold their BTC. The number of addresses holding more than 1 BTC was less than 927,000 on Nov. 11, when the exchange filed for bankruptcy, but reached 970,000 a month later.
In this same period, the price of Bitcoin dropped below $16,000, which indicates that investors took advantage of the period to buy on the low.
By CriptoFacil