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Bitcoin bull run traced to ‘smart money’ as 40% of total supply held for over three years Bitcoin bull run traced to ‘smart money’ as 40% of total supply held for over three years

Bitcoin bull run traced to ‘smart money’ as 40% of total supply held for over three years

Data via Glassnode

The open secret to Bitcoin's success may be that that up to 40% of its supply has been locked down by 'smart money.'