99% of All Bitcoin Supply Is Now in Profit
Bitcoin, the world’s most valuable digital asset, saw a major rally during the first two weeks of October. BTC is now up by more than 40% since 1 October 2021. Due to the latest rally, a large part of the overall Bitcoin supply has turned profitable.
According to Glassnode, one of the leading on-chain analysis firms, more than 99% of the BTC supply is now in profit. Long-term holders of the world’s most dominant crypto asset are planning to hold Bitcoin for the next few years.
“With Bitcoin over $60k once again, only 0.98% of the circulating supply was last spent at higher prices. Owners of this 185,816 BTC HODLed throughout all the volatility, the ups, and the downs of the last 6 months. 99.02% of all BTC supply is now in profit,” Glassnode highlighted.
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