Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.
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Data from Glassnode shows that investors are holding on to their bitcoin longer than ever. The amount of bitcoin that's been held for at least a year has climbed to a record 68% while 55% of bitcoin has been held for at least two years, and 40% for three years. CoinDesk's Jenn Sanasie presents "The Chart of the Day."
