Bitcoin supply untouched for 5 years at All-Time High

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‘Coin Metrics’ State of the Network: Issue 9’ report indicates that the amount of Bitcoin that was not transferred for the last 5 years has just reached All-Time High.
What can we take from this conclusion but the fact that Bitcoin continues to establish itself more like a store of value (just like gold) and less as a payment method (its initial purpose).
The study indicates that almost 4 million BTC units – which represent more than 21% of the overall supply – have not been moved for the last 5 years, but what exactly does this mean for the market?
If we listen to some voices in the Bitcoin space we may be tempted to believe that major investors who joined the cryptocurrency market some years ago prefer to hold for a longer period of time before moving the coins in order to maximize the profits.
Ok, we can understand that but if one holds a large number of Bitcoins, shouldn’t that person check the digital assets from time to time or maybe transfer some of them between wallets just to see if passwords and access keys still work?
For this reason, there are people who voice their concerns on Bitcoin’s untouched supply saying that 5 years without improving your storage system is a rather long period of time, especially in crypto, and most probably those Bitcoins are actually lost by their owners due to various causes.
Nevertheless, most analysts prefer to look at the bright side of this information and see Bitcoin slowly becoming a better store of value and not so much a payment method, especially when considering high fees and slow transaction speeds.
Further on, another positive element about this situation is that the unmoved supply of BTC seems to be increasing along the years which could affect Bitcoin’s unexpected volatility swings.
Though traders and short-time investors may not be happy about this as they are generally looking for fast profits, the institutional investors who look first for long term security and second for profit may be just a bit happier about having more than 20% of the overall Bitcoin supply untouched for years acting like an anchor against volatility and manipulation schemes deployed by the infamous ‘whales’.
Is Bitcoin slowly becoming the new gold?

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