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According to the tweet shared by popular on-chain data vendor Glassnode, the very early Bitcoin investors, whose stashes are older than ten years old, are not selling their BTC.
The number of wallets last active more than ten years ago, which means back in 2012 and earlier, has seen a major increase and Bitcoin stored in them has reached an all-time high of 2,386,849.127 coins.
Back in those days, what is known now as the largest global cryptocurrency by market cap was the only cryptocurrency and worth less than $100. Besides, the mysterious Bitcoin creator Satoshi Nakamoto was still around then, talking to developers on forums and via e-mail.
? #Bitcoin $BTC Amount of Supply Last Active > 10y just reached an ATH of 2,386,849.127 BTC
— glassnode alerts (@glassnodealerts) February 11, 2022
View metric:https://t.co/lBBwEqVviB pic.twitter.com/6BpHMQulQJ
While many old-school BTC investors are still sitting tight on their Bitcoin, more long-term holders are jumping on the BTC bandwagon. The reason for that is a wider BTC adoption and also the fact that multiple Wall Street firms and high-net-worth individuals, even renowned billionaires, like Paul Tudor Jones, Mark Cuban, Robert Kiyosaki and Elon Musk, have started treating Bitcoin as a store-of-value.
Long-term holders are known as “diamond hands” in the crypto community, no matter which coin they hold, they hold it tight.
Tomiwabold OlajideOn the other hand, the so-called “paper hands”, or weak-handed investors, who came in crypto to make a quick buck or are scared because of the FUD, continue to sell their Bitcoin holdings.
As an example, additional data from Glassnode shows that the number of wallets holding 100+ BTC has dropped to a five-year low of 15,650.
? #Bitcoin $BTC Number of Addresses Holding 100+ Coins just reached a 5-year low of 15,650
— glassnode alerts (@glassnodealerts) February 11, 2022
Previous 5-year low of 15,653 was observed on 07 February 2022
View metric:https://t.co/ceqO9LHIvs pic.twitter.com/XoKVNYxifh
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