Long-Term Bitcoin Holders Increase Significantly Since FTX Collapse

The number of Bitcoin investors holding for the long term has increased recently. (Photo; Doc. Unsplash)

JAKARTA - The number of Bitcoin investors holding for the long term has increased recently, according to data from crypto market intelligence platform Santiment. More than 50 percent of the total outstanding Bitcoins have not moved in the last two years, according to findings from Glassnode.

The number of individuals and entities holding Bitcoin for the long term has reached nearly 45 million, which is the fastest increase since early 2021. At the end of April 2021, there were around 38 million Bitcoin long-term holders, and currently their number is heading for 45 million.

Another chart from Glassnode shows that Bitcoin's record highs of all time (53 percent) were last active more than two years ago. Nearly 30 percent of the total outstanding Bitcoins have not moved in the last five years, while less than 15 percent were last active ten years ago.

According to Anthony Pompliano, an American businessman, more than 2.7 million BTC may be "lost, forgotten, or in the hands of the world's most disciplined investors", according to the data.

The prolonged crypto winter has caused harm to many organizations and sparked a severe market decline, but also provides opportunities for investors to increase their exposure to Bitcoin at relatively low cost.

The number of addresses containing more than 1 BTC has risen to nearly one million, with a significant increase mainly following the fall of the FTX crypto exchange. The number of addresses with more than 1 BTC was less than 927,000 on November 11 and nearly 970.000 a month later.

Uncertain market conditions and falling Bitcoin prices are considered an opportunity for investors committed for the long term to amass more Bitcoin. Some analysts believe that this phenomenon reflects investor confidence in Bitcoin's long-term potential as a digital asset, despite facing market volatility.