Bitcoin has attracted a new generation of hodlers in the last three years, as resilient investors are steadfastly holding onto their assets.
Data from the widely used HODL Waves metric reveals that individuals who purchased Bitcoin in late 2020 have chosen to retain their coins without selling.
Long-Term Holders Continue to Accumulate Bitcoin
Despite the 2023 bull run that has propelled Bitcoin prices to their highest levels in over a year, long-term holders (LTHs) of Bitcoin are showing no inclination to reduce their exposure. The positive momentum in Bitcoin’s price has been attributed, in part, to the anticipation of the first U.S.-listed spot Bitcoin exchange-traded funds (ETFs).
The HODL Waves metric, which categorizes the Bitcoin supply based on the time elapsed