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Record: 3 out of 4 Bitcoins are held by long-term investors

Record: 3 out of 4 Bitcoins are held by long-term investors

Bitcoin (BTC) has been trading in what is usually called an “accumulation zone”, ranging from $24,756 to $31,818 since mid-March 2023. During these last six months of low-price activity, short-term holders liquidated their positions, while high-conviction long-term holders increased their share of Bitcoin’s limited supply.

Co-founder of Reflexivity Research, Will Clemente, shared a Glassnode chart on September 28 on X (formerly Twitter) showing that three out of every four Bitcoins in circulation are now in the hands of what Glassnode calls ‘Long Term Holders’.

“There it is – The percentage of Bitcoin supply held by long-term holders just officially reached its highest level ever at 76.09%.”

— Will Clemente (@WClementeIII)
Bitcoin – Long-term holders since 2011.
Bitcoin – Long-term holders since 2011. Source: Glassnode

According to the Glassnode metric’s description, long-term holders are crypto wallet addresses that received and are holding Bitcoin UTXOs for longer than 155 days. Interestingly, Glassnode Academy says that after a 155-day holding, Bitcoin addresses are less likely to spend their coins.

While short-term holders come and go looking for quick profits in high volatility scenarios, long-term holders are in for the bigger game, often using a dollar-cost averaging strategy, buy and hold strategies, or what is called position trading — in opposed to swing trading or day trading, that are more of short-to-mid term trading strategies.

Bitcoin price analysis

Meanwhile, BTC has again crossed the $27,000 price mark, being traded at $27,169 per coin on a remarkably positive day. Accruing for 3.54% gains in the last 24 hours.

BTC 1-day price chart.
BTC 1-day price chart. Source: Finbold

As fewer Bitcoin investors are willing to spend (or sell) their coins at record levels, the price of the leading cryptocurrency has started rising with a recent increase in the demand for BTC on the crypto market.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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