Long-term Bitcoin holders now control a record 14.599 million BTC, according to Glassnode data, reflecting increased confidence in the leading cryptocurrency as a store of value.
According to a report published by Decrypt, recent on-chain data from blockchain analytics firm Glassnode reveals that long-term Bitcoin holders now possess 14.599 million BTC – the highest value ever for this metric. Over the past seven days, the total balance held in these wallets rose by 43,949 Bitcoin or approximately $1.274 billion in current market prices.
Long-term Bitcoin holders are addresses that have retained coins for at least 155 days. These holders are statistically unlikely to spend their assets and are typically referred to as HODLers in the Bitcoin community. The amount held by long-term holders currently accounts for 75% of Bitcoin's circulating supply, suggesting that investors are choosing to hold onto their assets for extended durations.
Although long-term Bitcoin holders controlled as much as 78% of the circulating supply in February, the sustained pattern of long-term holding likely indicates growing confidence in the cryptocurrency's potential to serve as both a store of value and a reliable investment.
