The proportion of Bitcoins that have not been moved in the past two years has risen to a record 53%, according to data from Glassnode.
Morgan Creek Digital co-founder Anthony Pompliano has noted that in a five-year period, the figure is at 29%, and for ten years – slightly lower at 15%.
He has said:
“More than 2.7 million BTC are lost, forgotten, or in the hands of the most disciplined investors in the world.”
This has led some to believe that many Bitcoin holders have bought the asset at prices higher than the current rate and are waiting for an increase in order to make a profit. In April 2021, for instance, the cryptocurrency was trading around $58,000 (CoinGecko).
Pompliano has expressed doubt that the majority of Bitcoin holders during this period are among those expecting a rise.