It’s been more than 6 months since Bitcoin hit the all-time high price of $69,000. Since then, the trading price of Bitcoin has dipped more than half of its all-time high price.
Over the years, the situation of Bitcoin has turned from bad to worse. However, there are investors who have not lost their confidence in Bitcoin at all.
You will be shocked to hear that there are investors who haven’t spent/sold Bitcoin despite accumulating them in 2020. Since the year 2020, Bitcoin has demonstrated high volatility but still, these investors haven’t shown any interest in selling Bitcoin.
At times, Bitcoin has shown great resilience against market pressure. Similarly, it has shown great weakness against particular market factors and has experienced plunges in its price.
Despite all the problems, investors who have planned on hodling Bitcoin for a long term haven’t shown any concerns about any of the fluctuations. Under no circumstances, they have shown any movement in terms of their accumulations of Bitcoin.
It goes to show that such hodlers exist who are holding onto a significant amount of Bitcoin and are confident that the price of BTC will rise tremendously.
Coinbase Shared Very Interesting Details
Coinbase has just shared details surrounding the institutional clients and the custody of cryptocurrencies that have grown under them. The details show that there is a great number of institutional investors accumulating and holding onto the Bitcoin in their possession.
These investors have been increasing their portfolio in Bitcoin but they haven’t shown any signs of selling them. Coinbase has confirmed that the accumulations have been growing since the fourth quarter of 2020.
As per Coinbase officials, the accumulations of the institutional investors have grown by 296% in Bitcoin since the fourth quarter of 2020. Surprisingly, these clients have put their accumulations to the “hodl” status. They haven’t made any movement despite the Bitcoin trading price being slashed in half compared to its all-time high value.
An Idea of Accumulations
While giving an example, CryptoQuant, and on-chain data analytical firm clarified that if such investors deposited 10,939 in late 2020, they have kept them intact. They haven’t moved them or sold them despite the fluctuations in the Bitcoin market.
The clients that have been holding to Bitcoin since late 2020 are still looking at a 30% profit because the trading price of Bitcoin even now is $29,808.42.
How These Clients are Significant to Bitcoin
You will be surprised to know that Coinbase is not the only exchange where the investors have their Bitcoin in custody. Many other exchanges and wallets have Bitcoin that hasn’t moved since 2020.
This signifies that despite the bearish sentiments being high at the moment, there are investors who strongly believe Bitcoin will grow way higher. Not selling Bitcoin when it hit $69k is a strong indication that these investors are aiming for much higher.
For as long as such investors are sticking by Bitcoin, there is no way Bitcoin will vanish or tremble.