Fast Take
The Bitcoin Micropig has not too long ago put collectively an informative chart showcasing the Bitcoin holdings of various mining firms from January 2022 to June 2023.
On common, these firms have a tendency to carry round 75% of their Bitcoin, a generally recognized metric known as the “HODL” price. “HODL” stands for “Maintain On for Pricey Life” and is a time period used within the cryptocurrency neighborhood to explain the act of holding onto a cryptocurrency as an alternative of promoting it.
Once we delve into the aggregated knowledge, we discover that Bitcoin miners collectively possess a complete of 33,370 Bitcoins. Amongst them, Marathon emerges as a standout, with a powerful holding of 12,538 Bitcoins, sustaining an ideal 100% HODL price.
Following intently behind Marathon are RIOT, Hut 8, and HIVE, holding 9,136, 7,250, and 1,957 Bitcoins, respectively.
Inspecting the previous yr’s tendencies, we observe that the general Bitcoin holdings of miners have remained comparatively secure. This stability is a optimistic signal, suggesting that miners have held onto their Bitcoin even throughout the market’s most difficult intervals. Nonetheless, this stability additionally implies potential promoting stress if the worth of Bitcoin continues to rise.
The submit Analyzing Bitcoin holdings amongst mining firms appeared first on CryptoSlate.