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Bitcoin News & Updates / Only 3.5 Million Bitcoin Is Traded Worldwide
« on: June 22, 2020, 04:41:29 AM »Only 3.5 Million Bitcoin Is Traded Worldwide; Majority of BTC Held Long-Term as Digital Gold
Only 3.5 million bitcoin or 19% of total circulating supply is actively traded throughout the world, while the rest is being held long-term by investors, according to a new report by crypto analytics company Chainalysis.
Per the report, nearly 18.6 million bitcoin (BTC) has been mined as of June 2020. Of this, around 60% BTC is held by entities – either people or businesses – that have never sold more than 25% of the bitcoin they’ve ever received. Chainalysis labeled this BTC supply as “held for long-term investment.”
Taken from here.
I think this has been the case for many years and I am expecting almost the same situation years down the road. Come to think of it how just a small portion of the overall supply can be the determining force of the general price of the asset.