Genesis Trading points to a rise in the number of BTC hodlers

by in Cryptocurrency News


Digital asset manager Genesis Trading has recorded an increase in the number of investors holding Bitcoin for more than five months.

As a result of the December sell-off in the spot market, hodlers were able to significantly increase their reserves in cryptocurrency. The number of such BTC wallets more than doubled last year.

The company's analysts found that a surge in hodler activity has been observed since last July. According to Noel Acheson, head of research at Genesis Trading, the accumulation is aggressive.

Trending: El Salvador bought an additional 80 BTC amid a drawdown in the course

Moreover, hodlers prefer to withdraw BTC from cryptocurrency exchanges, which indicates that they refuse to sell coins. Accumulation is observed even against the background of a fall in the value of cryptocurrency. It has collapsed by about 20% in a month and is now trading at $42,179.

Delphi Digital came to similar conclusions. Her report says that investors prefer to hold BTC for a longer time, which should have a positive impact on its value.