Analytics Firm Says Long-Term Bitcoin Holders Amassed $45.3 T In BTC

Glassnode, a crypto analytics company, says that long-term Bitcoin (BTC) holders have been slowly building up their holdings for nearly two years.

In a new tweet, Glassnode says that long-term users have accumulated 1.01 million BTC over the past 602 days. This brings the total supply of this group to 14.47 million Bitcoin, which is just 20,000 BTC less than the all-time high.

The analytics company also says that “shrimp” holders, which are addresses with less than 1 BTC, have been “aggressively” buying Bitcoin at a rate of 33,400 BTC a month.

Glassnode says that only 130 out of 5263 trade days, or about 2.5%, have seen a bigger change in position every month. The shrimp group now has 1,330,000 BTC.

At the time this was written, the price of Bitcoin was $31,017. The top crypto asset by market cap is up 1.3% in the last 24 hours, around 0.7% in the last week, nearly 14% in the last month, and about 87% since the beginning of 2023.

Even though Bitcoin has gone up a lot this year, it is still about 55% below its all-time high, which was more than $69,000 in November 2021.

At Bitcoin’s current price, crypto analytics company IntoTheBlock says that about 75% of BTC users are making money. The company also says that 69% of people who own BTC have had it for more than a year.