Fidelity Digital Assets has released a new report showing that for the first time in history, the amount of Bitcoin entering the 'ancient supply' — that is, coins that have not moved for 10 years or more — is greater than the amount of newly mined Bitcoin.
There are 2 cases for this:
1 is that over time, more and more people lose wallets for long enough (such as during the 2014-2015 period), leading this pile of Bitcoin to join the '10 years+ not moving' group.
2 is a long-term HODLer holding without any movement to sell, Bitcoin remains still in the wallet. Most of those holding for over 10 years are likely large players, MM, and bookmakers; retailers probably only account for a very small portion of this pile and sometimes belong to type 1 (lost the damn wallet).
The fact that the amount entering the 10-year+ holder group is even greater than the newly mined amount is bullish news for Bitcoin in the long run, indicating strong holding demand while the mining output is less and will gradually decrease over time (4-year halving).
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