HODL Fever: Bitcoin Holders Refuse To Sell As Data Shows Record BTC Stash
Several investing strategies have emerged as Bitcoin and crypto gain value. The primary focus remains on Bitcoin and Ethereum, with many adopting a buy-and-hold strategy, known as 'HODL.' Glassnode reports an increase in Bitcoin holders and a rise in its illiquid supply, indicating a bullish sentiment. Market data shows a growing number of investors favoring HODLing, with stored supply metrics rising and active supply declining. Centralized exchanges report a decrease in Bitcoin reserves, currently at 2.64 million BTC, suggesting reduced selling pressure. Institutional interest is increasing, with a 30% rise in Bitcoin use over the past year and institutions owning about 8% of all Bitcoin. US companies hold over 49% of Bitcoin, valued at $19.7 billion, driven by demand for ETFs and viewing Bitcoin as a hedge against inflation. The cumulative value of Bitcoin assets is $66.11 billion.
