It can be 30 % of bitcoin “old” by 2035, sincerity projects

A new research report from Fidelity Digital Assets emphasizes the deepening of the structural transformation in the Bitcoin supply dynamics, which reveals that the BTC part is classified as “old”-does not move within 10 years or more-faster than the new version, which is the first in the history of 16 assets. If the current trends are possible, then Fidelity projects that by 2035,, Fidelity projects are that by 2035,, Up to 30 % of all Bitcoin in this long -term sleeping category.

Old Bitcoins “now Eclipse the new offer
the a reportWritten by research analyst Zach Weinrett and published on June 18, 2025, tracks the accelerated path of old supply in the aftermath of Bitcoin in April 2024 half. As of June 8, 2025, an average of 566 BTC per day enters the old regiment, compared to only 450 BTC that is released by mining bonuses, according to Glassnode. “There has been a calm, but it is possible that it is important in the ecosystem of Bitcoin after 2024 in half,” Winreret wrote, pointing to the moment the old show began to “go beyond the new supply.”
This threshold – uninterrupted transactions (UTXOS) that has been without touching for more than a decade – now represents more than 17 % of the total bitcoin supply, or about 3.4 million BTC. An immediate price of $ 107,000 per currency, the value of this old offer exceeds 360 billion dollars. The size of this sleeping wealth is amplified due to the presence of early holdings, especially those attributed to the continuous Bitcoin Creator. “Nearly a third of this old offer is owned by Satoshi,” the report notes, with acknowledgment that an unknown part of the regiment has been lost or unacceptable permanently.
What highlights fidelity is not just the numerical expansion of the old supply, but its increased impact on the structure of the Bitcoin market. “The strong condemnation of these long -term long -term holders has an increased effect on the ecosystem of the wider bitcoin,” Winriat writes. He adds that the increased display concentration in non -animated addresses enhances bitcoin scarcity, especially when he associated with the fixed version table.
However, the report does not put the ancient show frame as a steadfastly fortified concept of market stress. While the daily decrease in the old show is rare in only 3 % of all days since 2019 – this figure has jumped to 10 % in the months after the US elections 2024. The report is the context of this transformation using a detailed scheme, the “bitcoin price that is characterized by a decrease in the old supply”, which commits price reactions to short -term sales or re -customization events between long -term holders.
This behavior is more clear among pregnant holders in a five -year segment. Since the American elections, the offer has decreased for five years or more on a daily basis of 39 % of time-three times the historical average of 13 %. Fidelity explains this as evidence of a broader interaction within the base of the pregnant woman in the long term, which may help explain the side and bottom prices in the first quarter of 2025. However, Wamwright warns of mixing the movement of the currency while selling it directly, noting that “some of this movement can be attributed to the sale of pressure, while another part may simply move for any number of reasons.”
Fidelity looks forward and provides a framework to expect the old offer as an increasing share of total production. Based on the current accumulation path, the old offer is expected to reach 20 % of the total bitcoin by 2028, 25 % by 2034, and possibly 30 % by 2035. These numbers include virtual contributions from public companies currently carrying at least 1000 BTC. As of June 8, 2025, Federation determines 27 such companies, combined with more than 800,000 BTC.
Despite the recognition that the corporate governor is not in nature in its nature in its nature, the report argues that public entities with important holdings can contribute useful to the old supply measures in the future-especially if they continue to collect and maintain cold storage policies that prevent repeated movement.
Wainwright concludes that the rise of the old offer represents more than a numerical direction – can reshape how investors understand the rare bitcoin. “Given the schedule of the programmed supply release in Bitcoin, the data that indicates that long-term holders are increasingly suffering from intensity, along with factors such as lost metal currencies-the rare of assets has the ability to grow over time,” he writes. In the ecosystem where circulating liquidity and increasingly active supply appears to discover prices, increasing attractive clouds may appear as one of the distinctive features of the next era for Bitcoin.
At the time of the press, BTC was traded at $ 104,888.

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