TL;DR
-
Institutional Investors (aka “The Big Dogs”) have all but stopped shorting (betting against) Bitcoin for the first time in three months!
-
68.5% of existing Bitcoin has not moved in the last year, 56% has not moved in the last two years – and 40% has not moved in the last three years!
-
That’s a lot of collective trust in Bitcoin. We’d love to see it!
Full story
Okay, time for our bi-weekly check-in with Bitcoin…
Despite the relatively flat price of Bitcoin in recent weeks, we come with good news!
And it consists of two parts:
-
Institutional Investors (aka “The Big Dogs”) have all but stopped shorting (betting against) Bitcoin for the first time in three months!
The message is “it is currently unsafe to bet against BTC.”
Nice!
-
68.5% (let’s call it 69%) of existing Bitcoin has not moved in the past year.
The more people hold BTC in the long run → the less BTC is available to buy → making BTC more sensitive to an increase in demand.
Increasing demand + increasing scarcity = positive price movement.
(At least that’s the idea).
And the impressive stats from point 2 don’t stop there…
56% of Bitcoin has not moved in the last two years – and 40% has not moved in the last three years!
That’s a lot of collective trust in Bitcoin.
We’d love to see it!