Bitcoin is increasingly being used as a buy-and-hold asset: Bitfinex report

Bitcoin is increasingly being used as a buy-and-hold asset: Bitfinex report

Bitcoin recorded an increase this week and recorded a modest increase of 2 %. While the largest crypto asset continues under several key levels, the accumulations of the owners in the past few weeks indicate that it is "increasingly being used as a buy-and-hold-asset".

• According to the latest report by Bitfinex, over 68.45 % of the total offer, i.e. 13.27 million of the 19.4 million existing BTC, have not been moved for over a year.
• This growing trend of investors clearly shows that the attitude towards the possession of Bitcoin has changed.
• Another important indicator that underlines the prevailing trend of long-term accumulation is the number of "wholecoers" addresses that have exceeded the brand of one million this week.
• These wholecoers can be defined as companies or individuals who have at least one full BTC and represent a significant part of the Bitcoin community.
• Data indicate that these investors have gradually accumulated since mid-2021 and that there have been almost no significant reversal in the upward trend of the 1-BTC wallet since then.
• The trend became even clearer in 2022 than the market broke, and this cohort thus recorded an increase of 20 %.
• Bitfinex confirmed his earlier analysis that Bitcoin could be in the early stages of a bull market, and added:

"Despite the current market depressing, long-term Bitcoin owners remain undeterred. The increasing trend towards long-term holding, paired with the rise of wholecoin and the advantages for miners from higher transaction fees, draws the image of a resistant Bitcoin ecosystem."

.