As per reports, the data extracted from Glassnode, a crypto analytics platform, implement that for the past two years circulation of Bitcoin had not taken place, stated Cointelegraph.
As reported by Cointelegraph, on April 10, 2023, Anthony Pompalio, a crypto influencer, stated that about 53% of Bitcoin’s circulation was inactive for the past two years. Sources revealed that in the last five years, around 29% of Bitcoin’s circulating supply had not been moved.
It is expected that about 2.7 million Bitcoins (BTC) worth $76 billion had not been touched in a decade. Experts believe that either these Bitcoins are lost or are possessed by “the most disciplined investors in the world,” added Cointelegraph.
It is believed that users bought Bitcoins when they had high value and now they are waiting for the right time for selling those, Cointelegraph concluded.
(With insights from Cointelegraph)