Birdwatch Note Rating
2023-12-05 12:43:09 UTC - HELPFUL
Rated by Participant: F6700CE6C398D88F68989BD0B4936602C790E4F7DAA7C6B0AB49AE53BD11CCC4
Participant Details
Original Note:
Only 11.8% of bitcoin is on exchanges as per glassnode (see https://www.betashares.com.au/insights/bitcoin-flirts-with-40k/ ), leaving 88.2% in non custodial wallets. The 70% 'hasn't traded' quote commonly refers to inactive supply (https://www.coindesk.com/markets/2023/11/23/bitcoin-supply-inactive-for-a-year-hits-record-high-of-70/) - I.e the % of wallets where no withdrawal has occurred due to wallet owners hodling
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