Bitcoin miners’ stockpile hits 14-year low.

Miners’ Bitcoin stockpile has hit its lowest level in 14 years, according to analysis by CryptoQuant. The decline, which began in 2011, is due to miners constantly selling off their blocks to cover operating costs and expand their operations. The halving event in April halved the block reward, increasing miners’ reliance on transaction fees. High demand for Bitcoin and falling inflation in the US suggest a potential supply crunch ahead. Despite the low stockpile, Bitcoin’s high price of $71,000 is keeping all investors who haven’t sold their coins in profit.