More than half of the entire supply of Bitcoin (BTC) in circulation has gone untouched for two years, according to data compiled by the cryptocurrency analytics platform; glassnode.
On April 10, Bitcoin advocate Anthony Pompliano highlighted that 53% of the circulating supply of Bitcoin has been inert in the last two years. Citing data released by Glassnode, Pompliano noted that this is a new all-time high for this specific metric tracked by the data platform.
More than 1 out of every 2 bitcoin in circulation has not moved in the last 2 years.
We hit a new all-time high of 53% today. pic.twitter.com/W6GzopMAtu
– Pomp (@APompliano) April 10, 2023
In addition, the businessman also pointed to other metrics, such as Bitcoin, which has not moved in five and 10 years. According to the data, almost 29% of the circulating supply of Bitcoin has not moved in the last five years. This equates to more than 5.6 million BTC, worth approximately $158 billion at press time.
About 2.7 million BTC, worth $76 billion, have not been touched in a decade. Pompliano commented that these bitcoins could potentially be lost or are in the hands of “the most dedicated investors in the world.”
Some community members believe that the data means that holders bought when BTC was at an all-time high and are expecting the right time to sell. On April 10, 2021, BTC was trading above $60,000, according to the coin information aggregator; CoinGecko.
Meanwhile, the keyword “Bitcoin” recently topped the list of most popular search terms in the United States, which suggests that Americans have been curious about Bitcoin of late. The term outperformed other trending keywords such as former US President Donald Trump and American singer; Elvis Preley.
The increase in interest of Americans for Bitcoin occurs following the announcement by the United States Federal Reserve confirming the launch of the FedNow payment system. On March 16, the US government said that the instant payment platform will be available in July.
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