Surprising new reports show that people HOLD, as around 64% of the current total Bitcoins (BTC) in circulation haven’t been moved in over a year. That includes any transfers since 2018, demonstrating demand among investors and hodlers.

This analysis was done by Rhythm, who came to this conclusion before uploading statistics on December 2nd, about Bitcoin network activity.

Bitcoin investors HODL for the long term

Of the approximate 18.08 million Bitcoins which have been mined, 11.58 million or 64% of the supply, have not moved and stayed within the same wallet since 2018.

The figure is surprising because during this time BTC has expanded from $3,100 last December to 2019 highs of $13,800, just six months later against the USD.

Afterwards, the Bitcoin’s price reversed back down, losing 52% of its value from the highs, reaching new local lows of $6,500 on November 25th.

According to this data collected, the amount of inactive Bitcoin compared with the percentage of the total supply, has drastically increased in the past few years. The trend has remained strong during bull markets as well as bear markets. This confirms a desire among investors to save and HODL instead of taking gains during profitable periods.

HODL mentality of hard money

Bitcoin’s characteristics fit the description of hard money, being a currency with a fixed supply and distribution schedule. Along with having no central authority which can manipulate it.

BTC’s unique proponents have drawn a hard distinction between its characteristics and the characteristics of national currencies. These national or fiat currencies are considered “easy money”.

Easy money describes a currency whose supply can be manipulated by its controlling body. This is suitable for an economic system which encourages spending and borrowing. While at the same time discourages saving as the “easy money” loses its value over time.

Author Saifedean Ammous has summarized on this topic in his popular book, “The Bitcoin Standard,”. There he describes how consumers feel a need as well as urge to spend money sooner. This comes as a result of the currency losing its value in the long-term. The reason is due to interference or manipulation by the government and central bank.

Bitcoins themselves, on the other hand, continue to show and encourage an economy of saving for the future. Giving users an understanding that it is more profitable to do so. Rather than spend as much as possible as soon as possible.

