The cryptocurrency industry was in a rut throughout 2022. While Bitcoin has been declared dead multiple times, the asset continues to remain relevant. Yet, skepticism has hindered BTC’s progress over the years. Several individuals have left the ecosystem. On the bright side, an increased number of investors are still HODLing.
A recent chart noted how half of the Bitcoin supply has not moved in the last two years. This further signifies that a record amount of users are still holding onto their BTC without selling it. It can be inferred that investors are still somewhat optimistic about its future.
Even though this is a bullish notion, some of them weren’t very pleased. It was pointed out how advanced adoption of the asset could be disrupted if the percentage of HODLing surges.
Additionally, 65% of Bitcoin holders were currently making profits. It should be noted that 70% of the total owners have been holding the king coin for over a year now. It seems like long-term holders were pocketing the most profits.
Here’s how much a $1 Bitcoin investment 10 years ago would cost now
Bitcoin started out at a much lower price than it currently is. Over the years, the asset grew in terms of both popularity and value. Back in 2021, BTC even soared to an all-time high of ~$69,000. However, due to the recent bear market, the asset plummeted and is currently trading at $23,212 with a 1.33% daily surge.
It should be noted that Bitcoin only hit the $1,000 mark for the first time in 2017. Veering back to ten years ago, the asset was still in the $100 zone. But, a $1 investment during that time into BTC would have multiplied into $30 million.
As several were complaining about the missed opportunity, a few others noted how it isn’t late to invest in the king coin, with a potential 10x growth over the next few years.