Fast Take
The Bitcoin Micropig has lately 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 identified metric known as the “HODL” charge. “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.
After we delve into the aggregated information, we discover that Bitcoin miners collectively possess a complete of 33,370 Bitcoins. Amongst them, Marathon emerges as a standout, with a formidable holding of 12,538 Bitcoins, sustaining an ideal 100% HODL charge.
Following carefully behind Marathon are RIOT, Hut 8, and HIVE, holding 9,136, 7,250, and 1,957 Bitcoins, respectively.
Inspecting the previous 12 months’s traits, we observe that the general Bitcoin holdings of miners have remained comparatively secure. This stability is a constructive signal, suggesting that miners have held onto their Bitcoin even throughout the market’s most difficult intervals. Nevertheless, this stability additionally implies potential promoting strain if the value of Bitcoin continues to rise.
The publish Analyzing Bitcoin holdings amongst mining firms appeared first on CryptoSlate.
