- According to Bitcoin investor PlanB, 87% of all Bitcoins are in profit.
- Glassnode’s data shows the current profit ratio for Bitcoin holders is the highest the industry has experienced since November 2021.
- Glassnode noted that despite the high ratio of Bitcoins in profit, the magnitude of unrealized profit held within these coins remains modest.
According to PlanB, a renowned Bitcoin investor and creator of the Stock-to-Flow (S2F) model, 87% of all Bitcoins are in profit. He noted this in a post on X (formerly Twitter), which he made in the late hours of Wednesday, November 22, while Bitcoin traded around $37,500, according to data from TradingView.
87% of all bitcoin is in profit (yellow) pic.twitter.com/3g1337bQh8— PlanB (@100trillionUSD) November 22, 2023
PlanB’s post contained a chart that used different colors to show the percentage of Bitcoins in profit beginning in the early days of the flagship cryptocurrency. It shows a notable improvement on the data released by Glassnode about three days ago, showing that 83.6% of the Bitcoin supply was held in profit.
According to Glassnode’s recent report, the current profit ratio for Bitcoin holders…
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