Satoshi

Satoshi Nakamoto

Narrative

Trump Media

Gains

<div>
 <p>Interestingly, Bitcoin coins untouched for ten years now exceed daily issuance, reviving 2021-style supply-shock narratives as analysts float $200K cycle targets.&nbsp;</p>
 <h3 id="bitcoin-s-10-year-hodling-narrative-goes-through-the-roof">Bitcoin’s 10-Year Hodling Narrative Goes Through the Roof</h3>
 <p>Following the 2024 halving, a pivotal shift emerged in Bitcoin’s ecosystem.</p>
 <p>For the first time ever, more BTC is becoming “ancient supply”—unmoved for over 10 years—than is being newly mined.&nbsp;</p>
 <p>On average, 566 BTC per day goes dormant, outpacing the 450 BTC issued daily, according to Glassnode data.</p>
 <p>Fidelity <a href="https://www.fidelitydigitalassets.com/research-and-insights/increasing-impact-bitcoins-ancient-supply" target="_self" rel="noopener noreferrer nofollow"><span>acknowledged</span></a>, “The strong conviction of these ultra long-term holders is having an increasing influence on the wider Bitcoin ecosystem.”</p>
 <p>On January 1, 2019, Satoshi Nakamoto became the first Bitcoin 10-year holder, and ever since, nearly 3.4 million BTC worth more than $360 billion has joined the “ancient supply” category.</p>
 <p>Fidelity noted that roughly one-third of the ancient Bitcoin supply belongs to Satoshi, while a significant portion is likely lost or inaccessible though some of these coins could still resurface.</p>
 <p>The rise in long-term holders may partly explain Bitcoin’s sideways and downward price action in Q1 2025.&nbsp;</p>
 <p>Despite ancient supply outpacing new issuance, this imbalance doesn’t guarantee price gains, but it could regnite hope that the leading cryptocurrency could soar to the $205K target in the long run, owing to a remarkable hodling trend and an imminent Bitcoin supply squeeze.</p>
 <p>The supply shock narrative is supported by the fact that <a href="https://coinpaper.com/9497/bitcoin-on-exchanges-hits-7-year-low-supply-shock-looms" target="_self" rel="noopener noreferrer nofollow"><span>BTC on exchanges recently hit a 7-year low</span></a>, reflecting a shift in market structure and investor behavior.&nbsp;</p>
 <h3 id="institutional-grade-bitcoin-treasury-gains-steam">Institutional Grade Bitcoin Treasury Gains Steam</h3>
 <p>Not only is ancient BTC taking over, but also corporate Bitcoin adoption as a treasury asset has been going through the roof in the first half of 2025, marking a pivotal shift toward institutional-grade crypto strategies.</p>
 <p>Several factors are making institutional-grade Bitcoin treasuries more viable and appealing than ever.</p>
 <h3 id="a-growing-wave-of-corporate-treasuries">A growing Wave of Corporate Treasuries</h3>
 <p>As of early June 2025, roughly 80 publicly listed companies collectively hold over 673,000–688,000 BTC—valued at nearly $70 billion—amounting to around 3–3.4% of all circulating Bitcoin.</p>
 <p>Strategy, formerly MicroStrategy, <a href="https://coinpaper.com/9501/1-045-bitcoins-bought-what-does-strategy-know" target="_self" rel="noopener noreferrer nofollow"><span>leads with 582,000 BTC</span></a>, acquired for a total of $40.79 billion at an average price of about $70,086 per Bitcoin.</p>
 <p>Other adopters include Tesla, Block, GameStop, Trump Media, Metaplanet, Semler Scientific, and Twenty One Capital.</p>
 <p>Nakamoto Holdings is the latest firm to <a href="https://www.businesswire.com/news/home/20250620361457/en/KindlyMD-and-Nakamoto-Announce-an-Additional-%2451.5-Million-In-PIPE-Financing-To-Support-Bitcoin-Treasury-Efforts" target="_self" rel="noopener noreferrer nofollow"><span>expand its BTC treasury</span></a> through a PIPE (Private Investment in Public Equity) worth a whopping $51.5 million.&nbsp;</p>
 <h3 id="why-is-this-trend-gaining-steam">Why is this Trend Gaining Steam</h3>
 <ol>
  <li><p>Inflation hedge &amp;amp; dollar uncertainty Corporate leaders cite concerns over a weakening U.S. dollar, rising global debt, and unpredictable monetary policy. Bitcoin offers both a fixed-supply hedge and non-sovereign diversification.</p></li>
  <li><p>Regulatory tailwinds Under the current U.S. administration, firms like Trump Media are leveraging a more crypto‑friendly regulatory environment, with streamlined access to debt markets via <a href="https://www.reuters.com/sustainability/boards-policy-regulation/what-are-bitcoin-treasury-strategies-latest-trend-public-markets-2025-06-16/?utm_source=chatgpt.com" target="_self" rel="noopener noreferrer nofollow"><span>convertible bonds designed to fund BTC buys</span></a>.</p></li>
  <li><p>Tactical capital raising Public companies are issuing bonds, convertible notes, and equity to finance BTC accumulation—mirroring Strategy’s leveraged approach. For example, KindyMD is merging with Nakamoto Holdings with $763 million in escrow for Bitcoin reserves.</p></li>
  <li><p>Market psychology &amp;amp; optics Bitcoin treasury announcements often spark sharp runs in corporate stock prices—even for non-crypto firms. GameStop saw its price jump following its BTC purchase.</p></li>
 </ol>
 <h3 id="conclusion">Conclusion</h3>
 <p>As more companies follow Strategy’s model—supported by IPOs, mergers, and debt financings—the Bitcoin treasury play is gaining legitimacy and momentum.</p>
 <p>This coupled with ancient Bitcoin skyrocketing, have the potential of pushing the apex cryptocurrency to unprecedented heights.&nbsp;</p>
</div>

Long-Dormant Bitcoin Wallets Tighten Supply, Fueling Bullish Outlook

Table of Contents

Coinpaper.com

Other articles published on Jun 23, 2025

Join our free newsletter for daily crypto updates!