According to TradingView, confirmed observations of the analytical company Glassnode, miners began a little, but increase reserves. If in April their wallets contained 1,794,622 BTC, then by mid -May this figure increased to 1,797,330 BTC. The total increase amounted to 2.708 BTC, or 0.15%.
TradingView noticed that earlier miners actively sold mined coins for several months to cover operating costs, including electricity and equipment. However, now, when the price of bitcoin ranges in the region of $ 100,000, they have moved to the retention strategy.
This behavior was a surprise to crypto -investors, especially against the background of an increase in bitcoin price by almost 20% and signal The Hash Ribbon indicator, which indicates a profitable moment to buy an asset, said TradingView experts.
LEDN Main Investment Director John Glover (John Glover) declaredthat the strategy of holding bitcoins can give miners the possibility of extracting additional profit from the increase in the cost of coins, delay the payment of taxes and even get additional income, renting BTC on credit. “Instead of selling coins and losing potential profit, miners can use them as a deposit to receive fiat loans, covering current expenses. This strategy becomes especially relevant when the market demonstrates bull moods, ”said Glover.
The head of LEDN added that if the trend for the accumulation of VTS is preserved, then the first cryptocurrency can strengthen its position as “digital gold”, and miners that have switched from sales to accumulation will become an important factor that determines the future movement of the digital asset market.
Earlier, experts of the CoinShares portal said that mining bitcoins, which was once considered “gold residential” for enthusiasts and crypto companies, gradually turned into a financial trap, and the viability of most small market participants was in question.
Source: Bits
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