Nearly 45 Million Bitcoin Investors Taking Advantage of Bear Market Bounties – HODLers on the Rise!

As the Bitcoin market grapples with extreme turbulence, a growing number of investors have decided to buck the trend and remain steadfast in their long-term investment in BTC. Recently, data released by Santiment and Glassnode show that nearly 45 million Bitcoin (BTC) holders are now HODLing – or Holding On for Dear Life – a concept that has become the driving force behind the Bitcoin movement.

In 2021, when the bull run kicked off and Bitcoin’s price jumped from around $30,000 to $64,000, Santiment reported that the number of individuals and entities holding Bitcoin for the long term jumped significantly – from 38 million to almost 45 million today. This trend has been largely attributed to the prolonged bear market that began shortly thereafter, which presented an opportunity for many investors to acquire more coins at a reduced price.

Moreover, Glassnode’s research indicates that more than 53% of all BTC in circulation has not moved in the past two years, and the number of Bitcoin addresses holding more than 1 BTC has climbed to nearly one million since the summer of 2021. This suggests that many investors have used the bear market as an opportunity to add more coins to their portfolios.

Furthermore, almost 30% of the total Bitcoin circulating supply (over $155 billion in market capitalization) has been inactive for the past five years, while less than 15% has not moved in a decade. This clearly demonstrates the long-term commitment of crypto investors who are optimistic about the future potential of digital currencies.

American entrepreneur and host of The Pomp Podcast, Anthony Pompliano, has commented on these statistics, noting that over 2.7 million BTC are “lost, forgotten, or in the hands of the most disciplined investors in the world”. Indeed, these long-term HODLers have demonstrated an unwavering belief in the underlying technology of Bitcoin and the potential of cryptocurrency as a whole.

The Coinbase Institutional report also showed that 85% of the circulating Bitcoin supply is held by long-term holders, and the ‘hodler’ supply hit a record high of 13.9 million coins this month. These figures, along with the fact that retail investors now hold a record 17% of the circulating BTC supply, clearly demonstrate that the crypto investor community is more bullish than ever.

At the time of writing, Bitcoin prices have posted a minor rise and are currently hovering around $28,300. This compares to an all-time high of nearly $64,000, which was achieved in April 2021. Despite the 75% reduction in prices, it appears that many Bitcoin investors are not only determined to stick with the currency but also take advantage of the current market conditions to add more coins to their portfolios.

Given the recent activity in the Bitcoin market, there is now a growing sense of optimism among HODLers that the crypto winter may be coming to an end and that BTC prices could soon be on their way to a new all-time high. Will the current crop of HODLers be rewarded for their trust and discipline? Only time will tell.

Previous articleCrypto Confrontation: A $13 Million Heist and The Biggest Flash Loan Attack – A Look at GDAC and Euler Finance’s Struggles
Next articleAlibaba Launches AI Chatbot Tongyi Qianwen
Rina Giannino
Journalist venturing into blockchain, Rina has been a follower of the technology since 2019 and finally taken the plunge with a career as a journalist in the industry.