More than a 3rd of Bitcoin holders would hesitate to offer even a little part of it, even if rates reached a million dollars. On-chain analysis validates that more of the Bitcoin supply is ending up being inactive as hodlers decline to offer.
On December 6, MicroStrategy CEO Michael Saylor surveyed his 3 million X fans, asking how high BTC would require to increase before they thought about offering a little part of their holdings.
Bitcoin Hodl Narrative Strengthens
Extremely, the easy going survey had actually gathered more than 87,000 actions in less than a day.
This is not a little number of BTC holders, so the 36.6% of them that responded to 1 million dollars or never ever is likewise impressive.
If more than a 3rd of Bitcoin holders never ever prepare to offer, that would put severe pressure on the supply and need, possibly additional pumping up costs.
30% of the participants stated they would offer some if BTC rates reached $100,000. Around 19% were awaiting $250,000, and 14% would offer a part at $500,000 per BTC.
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Bitcoin author Preston Pysh stated,
