Bitcoin has proven to be a highly profitable investment over the past 14 years. In fact, investors have seen profits on 99.92% of all trading days, with only six days being unprofitable. This demonstrates the long-term value of holding Bitcoin, especially during bear markets.
Recently, Bitcoin reached an all-time high price of $73,600 in mid-March. Although the price has since settled around $68,000-$70,000, this still represents a significant increase for BTC holders. Despite some price fluctuations due to market volatility, the vast majority of Bitcoin holders remain profitable.
Data from Blockchain.com shows that Bitcoin purchased between March 9-13 and March 25-29 is currently at a loss. This only accounts for 0.16% of the total trading days. In other words, the overwhelming majority of trading days have been profitable for Bitcoin investors.
Looking at the distribution of Bitcoin wallets, the majority (86.28%) hold up to $1,000 worth of BTC. 13.03% hold between $1,000 and $10,000, and only 0.69% hold $100,000 worth of Bitcoin. This indicates that Bitcoin ownership is widespread and accessible to a wide range of investors.
One of the key benefits of Bitcoin’s resilience during bear markets is its effect on the mining community. Bitcoin’s ability to bounce back from market downturns and maintain its value contributes to the security of the network. This allows the mining community to thrive and continue supporting the Bitcoin network.
As the next Bitcoin halving event approaches in 2024, institutions and private investors are accumulating BTC in anticipation of a price surge. The halving event, which occurs every four years, will decrease the mining rewards in half. Companies like Bitfarms are preparing for this event by upgrading their mining equipment to remain profitable.
Bitfarms, a Canadian Bitcoin mining firm, has committed $240 million to upgrade its mining fleet. This upgrade will significantly increase their hash rate and operating capacity, ensuring profitability despite the halving of mining rewards. This demonstrates the commitment of mining companies to adapt and remain profitable in the ever-changing Bitcoin market.
Bitcoin has proven to be a highly profitable investment over the years, with only a handful of unprofitable days. Its resilience during bear markets and the upcoming halving event have solidified its strategic importance and attracted increased interest from investors and institutions.
The accessibility of Bitcoin ownership is encouraging for new investors. Everyone can join in! 👥💪