50% of Bitcoin in Circulation hasn’t Moved in 2 Years: Glassnode

According to Glassnode, a renowned provider of blockchain analytics, almost half of the Bitcoin (BTC) currently in circulation has not been used in the past two years.

Anthony Pompliano, a prominent crypto influencer, pointed out on April 10 that 53% of the current Bitcoin supply had not been used in the previous two years.

Pompliano used figures from Glassnode to highlight the fact that this is a new record high for the particular measure being monitored by the database.

Investors Unwilling to Sell Their Bitcoin

The cryptocurrency entrepreneur also mentioned other indicators that haven’t changed for five or ten years. The data shows that over the past five years, less than 29% of Bitcoin’s floating value has not changed hands. This comes to more than 5.6 million BTC, which are currently valued over $158 billion.

In the past ten years, just 2.7 million BTC worth $76 billion had been handled. These tokens, according to Pompliano, may have been lost or are in the possession of “the most disciplined investors in the world.”

Bitcoin has been priced over $60,000 on April 10, 2021, according to the currency data aggregator CoinGecko. In the meantime, “Bitcoin” recently made it onto the list of the most used search phrases in the US.

As TheCoinRise reported, Glassnode stated in July of last year that the current Bitcoin holding pattern is comparable to previous bear market holding tendencies. As per Glassnode, the values are quite comparable to the BTC holding levels of 2012, 2015, and 2018. 

At the time, the business stated that for the previous three months, around 80% of the total Bitcoin via U.S. currency had not been touched. 14% of the available quantity of Bitcoin has been redistributed since July 2022.

The market sees a redistribution of coins as a result of certain weaker clients caving in during the discovery stage of a Bitcoin bottom because investor income was dropping.