The term HODL is an acronym derived from the phrase “hold on for dear life,” which became a widely popular recommendation for investors to remain steadfast in when Bitcoin’s notorious volatility peaks.
It appears that crypto investors are taking note of the tip and holding strong, as more than half of the entire Bitcoin supply has been dormant in over a year.HODL Effect: More Than Half of the Bitcoin Supply Remains Dormant For a Year or More
Bitcoin was designed to offer many unique attributes that are a benefit over the fiat currencies that make the world go round today.
Related Reading | Bitcoin Stock-To-Flow Model Updated To Account for Satoshi’s 1 Million BTC
The scare supply is just one of the many attributes that give Bitcoin its value as a disruptive financial asset.
Crypto investors are, according to new data, taking this tip to heart, and are holding their Bitcoin tight.
Wow, 12.6 million Bitcoin have not moved in over 1 year! This is MIND-BLOWING given that these HODLers saw go from $3.5k to $13.8k and back down again, unshaken! Who are these CRAZY HODLers? Well, I'm one of them, are you? — The Moon (@TheMoonCarl)
So tight, in fact, that over half of the Bitcoin supply has remained dormant for a period of one year or longer. Of , over 12.58 million BTC has remained dormant for a period of one year or more.
It also suggests that those who bought Bitcoin’s current bear market bottom in December 2018 at around $3,100, are likely to remain confident that the bottom is in, and won’t be selling the asset anytime soon.Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term
Bitcoin is expected to reach prices of $100,000 to as much as one million dollars per BTC in the future, prompting many to accumulate the asset for the sake of buying and holding for the long-term.
With a financial opportunity like that in front of investors, it’s no surprise they’re not seeing and instead are holding strong.
