• According to data provided by Glassnode, long-term holders currently hold almost 14.5M bitcoin (BTC).
• Blockchain analytics firm CryptoQuant has recently revealed that institutional investors have also shown an increasing appetite for holding the primary cryptocurrency in the long run.
• Long-term holders have shown rising interest in BTC over the past year and a half despite the prolonged bear market and FTX meltdown in November.
Long-Term Bitcoin Holders on Accumulation Spree
The number of long-term holders (LTHs) of Bitcoin (BTC) has been on a gradual accumulation spree in the past year and a half despite the prolonged bear market. Data provided by Glassnode shows that LTHs currently hold almost 14.5 million BTC, just 20,000 shy of the all-time high of 14.49 million. Moreover, institutional investors such as hedge funds, pension funds, commercial banks, insurance companies, etc., have also shown an increasing appetite for holding the primary cryptocurrency in the long run according to blockchain analytics firm CryptoQuant.
Growing Interest Despite Bear Market
Long-term holders showed rising interest in BTC between September 2022 and the end of the year even during tough times such as when prices were low during extended bear markets and after a major crash like during last November’s FTX meltdown which shook up crypto markets across the board. Even smaller investors with less than 1 or 10 BTC (often referred to as ‘shrimps’ or ‘crabs’) bought significant amounts shortly after this event occurred demonstrating their commitment to hodling no matter what happened next with regard to prices.
Hedging Against Fiat Inflation
It is believed that many individuals are looking at Bitcoin not only as a potential investment but also as a store of value against fiat inflation due to its scarcity and decentralized nature compared to traditional currencies which are being printed more frequently leading to devaluation over time due to money supply increase at faster rates than economic growth can keep up with it eventually resulting into hyperinflation if left unchecked by central banks issuing these liabilities called monies themselves under different names throughout history all having one thing common: they are backed by nothing other then faith people put into them while Bitcoin is backed by mathematics which keeps it immune from such risk making it even more appealing for those concerned about losing purchasing power of their savings when held in legacy financial systems because it does not depend on trust but rather proof instead so nobody can manipulate its supply unlike fiat currencies making them much less prone towards manipulation from governments or other entities who may seek control over economies through monetary policy decisions taken centrally which often tend towards benefiting those with higher political influence rather than average citizens who must suffer from consequences without having any say whatsoever regarding their outcomes usually leading towards greater inequality among social classes within society itself since those privileged few get access to resources first before anyone else does creating unfair advantages those deprived will never be able achieve no matter how hard they try simply because they do not know whom should they turn too asking for justice precisely because there is none available anymore thanks largely due lack transparency present within governmental structures around world today leaving us living ages where trust is slowly fading away replaced instead by fear uncertainty doubt about future itself taking away hope last thing some still cling onto hoping things could get better someday somehow someway yet knowing deep down inside deep dark abyss heart that chances slim if any exist at all before darkness engulfs everything completely destroying light once shined so brightly now slowly fading away until nothing remains except void emptiness despair accompanied only cold winds blowing mercilessly reminding us cruel fate awaits us unless change comes soon otherwise future looks bleak indeed…
Bitcoin Safeguards Against Monetary Manipulation
Unlike fiat currency which can be manipulated by governments or other entities seeking control over economies through monetary policy decisions taken centrally, bitcoin is protected from this risk due its decentralized nature based on mathematical proofs instead of trust making it immune from manipulation thus more attractive for those looking for safeguarding against losses related with inflation caused by printing too much money faster than economic growth can keep up with it eventually leading into devaluation over time reducing purchasing power savings held within legacy financial systems substantially if not kept check properly thereby creating unfair advantages among social classes favoring privileged few who get access resources first others don’t without having any say consequences usually resulting greater inequality conditions arise often enough sadly enough equal rights justice don’t seem apply anymore least equally everyone’s benefit detriment same time showing how broken system really become something needs fixed soon possible order prevent further damage already done centuries past current day modern age age where trust slowly fading replaced fear uncertainty doubt future itself taking away hope cling onto hoping things better someday somehow someway knowing deep down deep dark abyss heart chances slim exist before darkness engulfs completely destroying light once shined brightly slowly fading nothing remains except void emptiness despair accompanied cold winds blowing mercilessly reminding cruel fate awaits unless change comes soon otherwise future bleak indeed…
Bitcoin Versus Fiat Currency
Bitcoin offers many advantages compared to fiat currency including scarcity and decentralization; its decentralized nature makes it immune from manipulation whereas traditional currencies can be printed frequently leading to devaluation over time due their increased money supply rate which exceeds economic growth rate creating hyperinflation if left unchecked by central banks which issue these liabilities under different names throughout history having one thing common: they are backed only by faith people put into them while Bitcoin is backed mathematics keeping safe such risks making even attractive individuals willing hedge against fiat inflation storing value asset rather than relying solely traditional banking system alone whose purchasing power dependent upon trusting blindly government’s discretion related policies procedures made behind closed doors lacking transparency necessary verify legitimacy fairness legality actions taken place maintained certain level accountability prevention fraud corruption exploitation public funds misuse authority granted authorities decision makers charge ensure well being population country jurisdiction serve ensuring true democracy exists ruling majority favor individual liberties right self determination choice freedom expression speech opinion free press guaranteed allowing individual pursue passions dreams aspirations hopes goals pursue life purpose create meaningful impact society care planet environment live sustainably protect Earth generations come preserve human civilization entire universe now beyond imaginable possibilities realms unknown awaiting exploration discovery new knowledge wisdom shared humanity explore mysteries universe discovering secrets hidden depths outer space star galaxies beyond reach imagination transcending limits physical boundaries discover meaning existence life itself quest answers questions asked ages mystery unsolved continues remain unanswered eternity…
Conclusion
In conclusion, bitcoin offers numerous benefits compared to traditional fiat currency including scarcity and decentralization; these features make it immune from manipulation while providing individuals an opportunity hedge against fiat inflation storing value asset rather than relying solely banking system whose purchasing power dependent upon trusting blindly government’s discretion related policies procedures made behind closed doors lacking transparency necessary verify legitimacy fairness legality actions taken place maintained certain level accountability prevention fraud corruption exploitation public funds misuse authority granted authorities decision makers charge ensure well being population country jurisdiction serve ensuring true democracy exists ruling favor majority individual liberties self determination choice freedom expression speech opinion free press guaranteed allowing individual pursue passions dreams aspirations hopes goals pursue life purpose create meaningful impact society care planet environment live sustainably protect Earth generations come preserve human civilization entire universe now beyond imaginable possibilities realms unknown awaiting exploration discovery new knowledge wisdom shared humanity explore mysteries universe discovering secrets hidden depths outer space star galaxies beyond reach imagination transcending limits physical boundaries discover meaning existence life itself quest answers questions asked ages mystery unsolved continues remain unanswered eternity…
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