The final supply of Bitcoin that has been in circulation for more than ten years has risen to a record high, indicating that investors are accumulating the cryptocurrency despite market turbulence.
Glassnode reports that on February 1, 2023, there were 10.9 million Bitcoins left in circulation. Since the invention of Bitcoin in 2010, this is the highest point.
Several reasons, including the following, are responsible for the rise in the most recent supply of active Bitcoin:
- Market turbulence: The current turbulence in the Bitcoin market has prompted some investors to accumulate the cryptocurrency in an effort to lower their risk.
- Institutional adoption: The popularity of Bitcoin among institutions is growing, which is driving up demand for the digital currency.
Bitcoin is intended to have a maximum supply of 21 million BTC, making it scarce and a desirable investment for some.
Positive news for the cryptocurrency market may be seen in the increase in the last supply of active Bitcoin. It implies that investors are stockpiling Bitcoin in the midst of market turbulence, which can cause the price of the cryptocurrency to rise in the future.
It’s crucial to remember that the Bitcoin market is unstable and that the value of the cryptocurrency may decrease in the future. As a result, it’s essential to only invest in Bitcoin with funds that you can afford to lose.
The following are some important considerations regarding the most recent supply of active Bitcoin:
- The supply of Bitcoin that hasn’t been transferred in more than ten years is considered to be the last active supply.
- Since there is now a historically high amount of active Bitcoin, it is likely that investors are stockpiling the digital currency.
- Numerous variables, including market turbulence, institutional acceptance, and the limited quantity of Bitcoin, have contributed to the increase in the total number of active Bitcoins.
- Although the increase in active Bitcoin supply is encouraging for the cryptocurrency market, it’s crucial to remember that the market is unstable.
