Insights

Group of Bitcoin holders since 2013 holds more BTC than all exchanges

exchange68September 13, 2024

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Quick Take

The metric supply of the last active 10+ years ago Bitcoin holders suggests that these holders have been holding onto BTC since 2013.
This cohort currently holds over 2.63 million BTC, growing exponentially.
On the other hand, exchanges hold roughly 2.26 million BTC, which has decreased exponentially since 2020.
The cross-over occurred in Q4 of last year, in October, a trend that we expect to continue.
This suggests that ancient holders continue to hold their Bitcoin while coins are drained from exchanges.

Exchange Balance vs Ancient Holders: (Source: Glassnode) — Exchange Balance v.s Ancient Holders: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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