A staggering 67.7% of all Bitcoin has remained unmoved for over a year amid a banking crisis in the United States.
Highlights
- A staggering 67.7% of all Bitcoin has remained unmoved for over a year, data from Glassnode shows.
- Bitcoin (BTC) appears to be a haven for investors looking to escape the unfolding banking crisis in the U.S.
- Bitcoin’s origins are based on the Great Financial Crisis (GFC) of 2008.
- The decentralized network was created to respond directly to this crisis, providing an alternative currency immune to the control of a single entity.
- As of February 1, 2023, long-term holders constituted 73% of the BTC supply.
- Over the weekend, Bitcoin facilitated over 600,000 transactions, settling $33 billion, issuing 2,037 new BTC, maintaining a steady and predictable inflation rate of 1.8%.
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