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CryptoWatch: Nearly 10% of all bitcoins haven’t moved in 12 months

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Bitcoin investors have been hodling

As the stock market gyrates wildly, bitcoin remains surprisingly sedate—and one reason may be that some of its biggest holders are proving to be buy-and-hold investors.

Nearly 10% of bitcoin wallets, including one that ranks seventh among all of the largest wallets, hasn’t had any activity in a year, according to data from bitinfocharts. The number of dormant wallets has nearly doubled to 15.8 million in this time.

While bitcoin BTCUSD, +0.14% prices have plunged more than 50% so far this year, the digital currency has held to a tight range on either side of $6,500 for the better part of two months, and despite its biggest drop in nearly three weeks on Tuesday, the move hasn’t unleashed a wave of selling.

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