According to a tweet shared by Glassnode, early Bitcoin investors, who have had no Bitcoin for ten years, are still holding onto their holdings and not selling it.
The number of dormant wallets has been on the rise for more than ten years (2012 and earlier), as these wallets have seen a significant increase and the number of bitcoins stored at these addresses reached an all-time high of 2,386,849 bitcoins.
View metric: pic.twitter.com/6BpHMQulQJ
— glassnode alerts (@glassnodealerts) February 11, 2022
10 years ago the price of bitcoin was under $100.
Besides, the mysterious Bitcoin creator Satoshi Nakamoto was still around at the time, talking to developers on forums and via email.
While many old bitcoin investors are still strictly holding their bitcoins, more long-term bitcoin holders are flocking to and jumping on the bitcoin bandwagon as well.
The reason for this is the wider adoption of Bitcoin and also the fact that many Wall Street companies, high net worth individuals, and even famous billionaires, such as Paul Tudor Jones, Mark Cuban, Robert Kiyosaki and Elon Musk “They are starting to treat Bitcoin as a store of value.
Long-term position holders are known as “diamond hands” in the cryptocurrency community, no matter what currency they own, they hold it tight.
On the other hand, the so-called “paper hands,” or weak investors, have come to the cryptocurrency market to earn a quick profit or find them frightened, especially if doubt and uncertainty spread FUD, to quickly put up their Bitcoin holdings for sale.
For example, data from Glassnode shows that the number of wallets holding 100 bitcoins has fallen to a five-year low of 15,650.
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