Bitcoin, the world’s most popular crypto asset had a great time last year 2020. As a result of institutional investments, the rise in the cryptocurrency’s value is alarming. Hitting new all-time-highs and almost touching the $30,000 mark, 2020 was clearly a new age for Bitcoin.
A reasonable volume of Bitcoin apparently was bought and put in the lock by institutional investors. Furthermore, more and more Africans are buying the cryptocurrency idea.
Important 2020 Bitcoin Stats
Despite these good-to-hear developments, some Bitcoin metrics are worthy of looking into.
78% of the circulating BTC in supply is illiquid and are inaccessible for purchase. The idea of hoarding is a bullish investor sentiment that reduces selling pressure.
Below are some stats to carry on into 2021:
- 18.6 million (88.5%) of the total 21 million supply of Bitcoin is already mined
- Some 3 million BTC have been lost forever
- 14,5 million Bitcoins (78%) are now illiquid
- 1.2 million Bitcoins (22%) are liquid while 3 million BTCs are highly liquid
- Over 1 million Bitcoin became illiquid in 2020
- The Bitcoin illiquid supply is growing faster than the circulating supply
What Illiquid Bitcoins Mean
Illiquid Bitcoin decrease in a bear market and increases in a bull market. Meanwhile, the liquid portion of the supply has been in a continuous downtrend 9 months ago. Just like in 2017, we are at a stage whereby the illiquid supply is growing faster than the circulating supply.
No doubt, the current Bitcoin liquidity correlates with the BTC market signaling a prolonged bullish market.