Tesla’s Deeper Bitcoin Secret: What NO ONE is Talking About.
More than half of all bitcoins are held for long-term investment
Over 11 million bitcoins are used as “digital gold”.
A relatively small part of the total emission is used for trading.
Over 3 million bitcoins lost are likely to never be used again.
With a total supply of 21 million coins, almost 4 million bitcoins are already lost forever and are unlikely to ever be used..
About 60% of all existing bitcoins are held for long-term investments.
This is the conclusion reached by the analytical company Chainalysis, which investigated the dynamics of cryptocurrency turnover in the blockchain network..
According to the published report, with a total supply of 21 million coins, about 11.4 million bitcoins are held as a long-term investment and are considered digital gold..
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3.5 million bitcoins are used for trading on cryptocurrency exchanges.
Another 3.7 million coins are forever lost in the blockchain, and the remaining 2.4 million coins, taking into account halvings and an increase in mining difficulty, will be mined by about 2140.
At the same time, the report notes that the owners of 11.4 million bitcoin units have never sold more than 25% of the total capital..
Only a few trade
According to Chainalysis estimates, only 340 thousand traders actively circulate 3.5 million coins used for trading..
It is noteworthy that about 60% of all existing bitcoins are stored in licensed custodian vaults..
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The BeInCrypto editorial staff wrote earlier about the pitfalls of such platforms..
Despite repeated incidents of fraud, hacks and other gray schemes, exchanges continue to be the central location for trading and storing bitcoins, according to the report..
Fiat is the engine of progress
Chanalysis concluded that fiat-backed crypto exchanges have remained the preferred cryptocurrency exchange since January 2018.
A large volume of liquidity is cited as the reason for this persistent popularity..
However, as data from the bitcoin blockchain show, bitcoin whales continue to use cryptocurrency not just for long-term investments, but to artificially create volatility..
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