How Many Bitcoin HODLers Are There?189

Bitcoin has been through a lot in its short history. It has seen meteoric rises and devastating crashes. Through it all, there have been a core group of believers who have held onto their Bitcoin, no matter what. These are the HODLers.

So, how many Bitcoin HODLers are there? It's hard to say for sure, but there are a few ways to estimate. One way is to look at the number of Bitcoin wallets that have not been active for a long period of time. As of January 2023, there are over 23 million Bitcoin wallets that have not been active for at least five years. This suggests that there are at least 23 million Bitcoin HODLers.

Another way to estimate the number of Bitcoin HODLers is to look at the distribution of Bitcoin ownership. According to a study by the University of Cambridge, the top 1% of Bitcoin owners control over 30% of the total supply. This suggests that there are a relatively small number of large Bitcoin HODLers.

Based on these two estimates, it is likely that there are somewhere between 23 million and 29 million Bitcoin HODLers. This is a significant number of people, and it shows that Bitcoin is not going away anytime soon.

So, what are the benefits of being a Bitcoin HODLer? There are a few potential benefits, including:

Long-term appreciation: Bitcoin has a long history of appreciating in value over time. If you buy Bitcoin and hold it for a long period of time, you are likely to see a profit.
Protection against inflation: Bitcoin is a scarce asset, with a limited supply of 21 million coins. This makes it a good hedge against inflation.
Financial freedom: By holding Bitcoin, you are taking control of your own finances. You are not subject to the whims of banks or governments.

Of course, there are also some risks associated with being a Bitcoin HODLer. The main risk is that the price of Bitcoin could decline. If you buy Bitcoin and the price goes down, you could lose money.

Overall, Bitcoin HODLing is a viable investment strategy with potential benefits. However, it is important to be aware of the risks involved before you invest.

Conclusion

Bitcoin HODLing is a popular investment strategy with a long track record of success. If you are looking for a way to potentially grow your wealth over time, Bitcoin HODLing is worth considering. However, it is important to be aware of the risks involved before you invest.

2024-10-30

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