- Bitcoin wants to be a store of value (SoV) like gold and silver.
- As per BitInfoCharts, 60% of all BTC hasn’t moved in over 12 months.
As per a Reddit post, only 732,982 addresses have at least 1 BTC. The figure shows a small amount of “whole bitcoin” owners in comparison to over 20 million known addresses.
An asset can be called “money” if it completes the following criteria - a unit of account, mode of exchange, and a store of value. There is barely any doubt whether the BTC fulfills the first two, but it still needs to show that it can be a reliable store of value (SoV) like gold and silver.
As per Bitcoinist, the top-ranked cryptocurrency’s current price trend still leads the stock-to-flow model, which as a $1 million per BTC price outcome. It is wise for the investors to buy and hold bitcoin in anticipation of a parabolic advance that takes BTC/USD valuation into the trillion-dollar (USD) region.
BitInfoCharts shows that 60% of all BTC hasn’t moved in over 12 months. Moreover, a lot of addresses shows an unequal level of inflows against outflows. The top-100 address, without exception, has added a significant number of BTC to their stock while only a few accounts show outflows.
“The Rhythm Trader” tweeted:
“60% of all bitcoins have not moved in one year.
That's 10.5 million bitcoin being held as a store of value for the last 12 months.
This is a game of musical chairs. The music has stopped and these investors already found a chair to sit on.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.