64% of bitcoins are savings, more than half of the circulating supply is bound in wallets

By Roberto D. | CryptoFarm | 2 Dec 2019


Yesterday an account on twitter that habitually deals with extracting data from the blockchain has released a very interesting analysis, which was then taken up by various sites in the sector; Rhythm, this is the name of the account in question, has released data on the circulating supply, just over 18mln of coins, showing that more than half, a good 11.58m of BTC, have remained binding in the same portfolios since 2018. What Rhythm wanted to show is that these coins didn't move even when the price flew from 3 thousand to 13 thousand dollars last summer, which means that the bitcoiners are making a long-term investment, they don't care about the volatility or, as claimed by the same Rhythm, simply that they are crazy. In the 2019 bull run, in fact, the bitcoin price has increased by more than four times and you really need to be out of your mind not to take profit against such a gain; or this or simply the bitcoiners believe that in a few years bitcoin quotes will literally stand out.

What is certain is that today as today it is difficult to say whether bitcoiners are simply crazy or careful savers, if the positions of the detractors prove to be exact, in fact, in a few years BTC may not be worth anything, on the other hand, however, up to today the detractors have been systematically wrong and bitcoin quotations have instead continued to increase. If the community were right and the trend turned out to be the same in the coming years, and decades, bitcoin would prove to be an exceptional currency for small savers who could thus not only see their money protected from inflation but even re-evaluate themselves over time; who knows, therefore, that in the future bitcoin does not become for the workers a sort of small alternative pension fund. The way things have gone so far and how they could go in the future, in fact, a few tens of euros can be enough invested every month to end up with a nice nest egg in a decade, maybe not enough to drop everything and going to live in the Maldives but enough to be able to cope with any eventuality.

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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 https://linktr.ee/robertod


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