Long-term holding of Bitcoin, record high | coindesk JAPAN | Coindesk Japan

More investors than ever before are holding bitcoin (BTC) for the long term – or in industry parlance, HODL.

According to Glassnode data, a record 68% of bitcoins have been held for at least one year, 55% have been held for at least two years, and 55% have been held for three years. The coin has reached 40%.

Many analysts are bullish on Bitcoin as investors choose to hold it for the long term. The spread of long-term holdings in crypto assets contrasts with the long-term shift in US stocks. In U.S. stocks, investors are holding assets for much shorter periods than they used to.

Glassnode

FundStrat’s head of digital asset research Sean Farrell said long-term holdings tend to gain more traction over time. The exception is when the market becomes active and investors who bought in a downturn sell long-held assets to buyers who are willing to buy.

“This trend is bullish insofar as it implies price gains in this cycle and could result in a small supply squeeze if current long-term holders hold off on selling,” said Farrell.

He added that long-term holder behavior is not always useful as a short-term price signal.

Glassnode

Glassnode Long-Term-Holder Supply (amount of bitcoin held for 155 days or longer) also reached a record high of 14.46 million bitcoins. “It reflects the maturity of the coins purchased in the immediate aftermath of the FTX bankruptcy into a long-term holding landscape,” Glassnode wrote in its report.

Glassnode’s Liveliness index, which compares the relative balance between long-term holdings (HODLing) and spending behavior, also shows investors’ long-term holdings, dropping to its lowest level since December 2020.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Glassnode
｜Original: Bitcoin HODLing Has Never Been More Popular