- 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.