TL;DR
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Institutional investors (aka ‘The Big Dogs’) have all but stopped shorting (betting against) Bitcoin for the first time in three months!
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68.5% of Bitcoin in existence has not moved in the past year, 56% hasn’t moved in the past two years – and 40% hasn’t moved in the past three!
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That’s a lot of collective faith in Bitcoin. We love to see it!
Full Story
Alright, time for our bi-weekly(ish) check in with Bitcoin…
Despite Bitcoin’s relatively flat price over the past few weeks, we come bearing good news!
And it comes in two parts:
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Institutional investors (aka ‘The Big Dogs’) have all but stopped shorting (betting against) Bitcoin for the first time in three months!
The message being: ‘it’s unsafe to bet against BTC right now.’
Nice!
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68.5% (let’s call it 69%) of Bitcoin in existence has not moved in the past year.
The more folks hold BTC over the long term → the less BTC is available to buy → making BTC more sensitive to increases in demand.
Increased demand + increasing scarcity = positive price movement.
(That’s the idea at least).
And the impressive stats from point 2 don’t stop there…
56% of Bitcoin hasn’t moved in the past two years – and 40% hasn’t moved in the past three!
That’s a lot of collective faith in Bitcoin.
We love to see it!
