Over $450,300,000,000 in BTC is gradually being amassed by long-term Bitcoin holders, says analytics firm Glassnode
According to crypto analytics firm Glassnode, long-term holders have gradually accumulated Bitcoin (BTC) for nearly two years.
Glassnode notes in a new tweet that long-term holders have amassed 1.01 million BTC over the past 602 days, bringing the total supply of this cohort to 14.47 million Bitcoin, just 20,000 BTC below the all-time high.
Source: Glassnode/Twitter
The analytics firm also notes that “shrimp” holders, i.e., addresses holding less than 1 BTC, have been accumulating bitcoin “aggressively” at a rate of 33,400 BTC per month.
According to Glassnode, there were only 130 trading days out of a total of 5263, about 2.5%, that saw a major monthly position change. The shrimp cohort now holds 1.33 million BTC.
Bitcoin is trading at $31,017 at the time of writing. The top-valued crypto asset by market cap is up 1.3% over the past 24 hours, up about 0.7% over the past week, up nearly 14% over the past month, and up about 87% since the start of 2023.
Despite the massive gains this year, Bitcoin is still around 55% below its all-time high of over $69,000 set in November 2021.
Crypto analytics firm IntoTheBlock notes that around 75% of BTC holders are making money at Bitcoin’s current price. The company also says that 69% of BTC holders have held their Bitcoin for more than a year.
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