Bitcoin holdings on miners’ wallets reach two-year high

The amount of bitcoins held in miners’ wallets has reached 1.82 million BTC. According to Glassnode, this is the highest level in the past two years.

Thomas Heller, the former director of the leading F2Pool mining pool, argues that miners’ reluctance to sell bitcoins is a positive signal for the price of bitcoin. In an interview with CoinDesk, he noted that they are currently prepared to wait for more advantageous selling levels.

Harry Sudok, vice president of the mining company GRIID, said that the slowdown in selling is related to miners switching to new equipment. In his assessment, this period lasts about six months. During this time, miners sell cryptocurrency only to cover current costs.

The growth of BTC on miners’ wallets may also be related to the emergence of new pools. The little-known Lubian.com began showing activity in April, and three weeks later rose to sixth place by hashrate. Currently, the pool accounts for 4.4% of Bitcoin’s computing power, according to BTC.com.

Earlier, Glassnode analysts reported that 44% of bitcoins in circulation had not moved for more than two years.

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