Journalist
Posted:
- Long-term BTC holders own 69% of the circulating supply.
- The price of BTC fell this weekend and is currently trading around $26,100.
The Bitcoin [BTC] the price recently fluctuated within a range of $27,000 or $30,000. During this period of price volatility, onlookers and long-time BTC holders alike have witnessed the cryptocurrency’s struggle to break free from this range. Despite these price challenges, some dedicated holders have chosen to maintain their BTC holdings.
How much are 1,10,100 BTCs worth today?
Long-term Bitcoin holders retain a large share of the supply
Recently, InTheBlok published data that sheds light on the impressive long-term resilience of Bitcoin holders. It also showed the significant portion of the cryptocurrency supply they currently own.
According to this data, these dedicated holders are in possession of an astonishing 13.44 million BTC. This also amounted to a staggering value of more than $355 billion at the time of this report. Moreover, their collective assets constituted a remarkable 69% of the circulating supply, according to the statistics provided.
Further according CoinMarketCapthe total circulating supply of BTC exceeded 19.4 million. Moreover, at the time of writing, its market cap was above $500 billion.
Bitcoin MVRV Ratio Analysis
Santiment’s data showed that among long-term Bitcoin holders, two different categories experienced different levels of profitability.
Looking at the 180-day market value to realized value ratio (MVRV), holders who fell within this time frame were currently holding on to their assets at a loss. This was evident from the graph, which showed a value below the zero line, namely -5.9%.
Source: Santiment
On the other hand, the 360-day MVRV ratio presented a more optimistic picture, indicating that BTC holders had more profitable holdings in this particular category. At the time of the report, the chart reflected a figure of almost 6%, indicating a favorable outlook for these Bitcoin holders over the longer term.
The number of BTC holders continues to rise
The number of Bitcoin holders has increased remarkably despite the continued price fluctuations, as shown by the Santiment chart.
Source: Santiment
Is your portfolio green? Check out the BTC profit calculator
Currently, the total number of Bitcoin holders is almost 50 million, as shown in the graph. This represented substantial growth compared to the approximately 43 million holders registered at the start of the year in January.
At the time of writing, Bitcoin’s price was hovering around $26,100, reflecting a small decline of almost 1%. Looking at the daily timeframe chart, it becomes clear that Bitcoin experienced a drop of just over 1% over the weekend.
