Almost all bitcoins mined this year were sold

  • Elena Klimovich
  • 14:22 Dec 28, 2022
  • 378
Almost all bitcoins mined this year were sold

Public companies, BTC miners, have sold almost all of the coins that were obtained this year.

According to Messari, $40.3k of the $40.7k BTC obtained were sold. It includes such major miners as Core Scientific, Argo, Hut 8, and Iris Energy. Significant inventory declines were seen in November.

Source: CryptoQuant

Even though the sale of coins by miners leads to pressure on the price of bitcoin and provokes its decline, some believe this is not the case. For example, Arthur Hayes, former CEO of BitMEX, is sure that this factor is insignificant.

Even the daily sale of all mined coins will not affect the market.

According to CryptoQuant, as of December 26, the outflow from miners reached 919 BTC, equivalent to $15.35 million. It does not exceed 0.13% of the total trading volume, which reached $12.2 billion.

Stocks partially recovered in December and were up 1%. It gives reason to expect that the situation in the field of mining is leveling off.

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