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Bitcoin Long-Term Holders Stock up on Bitcoin as This Index Goes Green

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Wed, 08/11/2021 - 13:15
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Yuri Molchan
As the amount of Bitcoin stored by long-term holders recovers to the level when BTC was worth $12,500, a crypto influencer shows on Glassnode charts
Bitcoin Long-Term Holders Stock up on Bitcoin as This Index Goes Green
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Charts provided by Glassnode data analytics vendor show that the amount of Bitcoin owned by long-term holders has recovered to a level last seen in 2020, and these users are actively buying the dip.

Long-term Bitcoin investors recover BTC they held in 2020

Prominent Bitcoin dedicated Twitter account @BTC_Archive has posted two charts by Glassnode, indicating that long-term Bitcoin investors continue to buy Bitcoin on the dip and have already recovered what they sold since it was worth around $12,500 per coin.

The chart of the Total Bitcoin Supply Held by Long-Term Holders shows that the BTC owned by these investors is now at the same high level as it was last yearβ€”when the leading digital asset was worth $13,000.

The curve went down by Jan. 21, when BTC began soaring above $20,000, and has been rising since May.

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Serious BTC investors keep grabbing the dip

Another chart shared by this Twitter user with his 414.5 million followers shows that investors with diamond hands continue to stock up on Bitcoin, adding more and more to their holdings kept in cold storage wallets.

As of this writing, the flagship crypto is going at $46,059, according to data from CoinMarketCap, after breaching the $40,000 level on Aug. 5.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. β€˜Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.