Fidelity Digital Assets has reported a significant influence of dormant bitcoins that have been inactive for over a decade. According to the latest report, ancient bitcoins continue to grow in value and volume, which may affect the cryptocurrency market.
Growth of Ancient Bitcoin Supply
The ancient bitcoin, which has not moved for over ten years, is now outpacing the daily issuance of new bitcoins, with 566 coins compared to 450. The total value of this supply has reached a staggering $360 billion at current prices.
Influence of Long-term Holders
According to Fidelity, the growing number of long-term holders is becoming an increasingly influential element within the bitcoin ecosystem. By 2035, the share of ancient supply is projected to reach 30%. This increase in the value of the resource creates an opportunity for enhanced bitcoin value.
Potential Risks and Consequences
However, the report also emphasizes that the increase in ancient supply outpacing issuance does not necessarily lead to price increases. In late 2024, many ancient coins began to move, which could negatively impact the market by creating price pressure. Fidelity pointed out that even holders with the highest conviction may yield to pressure under certain market conditions.
The state and dynamics of the ancient bitcoin supply remain key factors in the cryptocurrency market. Long-term holders and their behavior can significantly influence both the supply and price of bitcoin in the future.
