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Bitcoin Long-Term Holders Control 75% of Circulating Supply: Glassnode

The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.

By Omkar Godbole
AccessTimeIconJul 24, 2023 at 10:05 a.m. UTC
Updated Jul 24, 2023 at 10:06 a.m. UTC
Bitcoin long-term holder supply (Glassnode)
Bitcoin long-term holder supply (Glassnode)
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Long-term bitcoin (BTC) holders, or addresses that hold coins for at least 155 days, now control a record three-fourths of the cryptocurrency's circulating supply.

  • Data tracked by blockchain analytics firm Glassnode show the balance held in these wallets has increased by 62,882 BTC ($1.83 billion) to a record 14.52 million BTC this month, surpassing the previous peak of 14.48 million BTC registered on May 21.
  • The new high means holders own 75% of the circulating supply of 19.437 million BTC.
  • Circulating supply refers to the total number of coins that are actively available for trade in the market.
  • "This suggests HODLing is the preferred market dynamic amongst mature investors," Glassnode tweeted.
  • The rate of flow into wallets controlled by illiquid entities, or network participants with little-to-no spending history, also remains strong, suggesting continued accumulation and weakening of sell-side pressures in the market. The number of coins held by these illiquid entities has surged by over 90,000 BTC this month.

Disclaimer: This article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see our Ethics Policy.


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Omkar Godbole
Omkar Godbole

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

Follow @godbole17 on Twitter

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