Askew says 15M inactive BTC signals bitcoin upside potential

An on-chain data expert suggested that bitcoin's rally could have further to go, as long-term holders have shown little inclination to sell.

Mitchell Askew, who leads Blockware Intelligence, pointed to a record high in long-term holder supply, which reached 15 million bitcoin this summer. He said the large volume of coins sitting idle indicates there may still be significant room for price appreciation.

Askew also discussed recent bitcoin ETF flows, arguing that they point to institutional buyers returning to the market.

Other topics covered in the interview include whether the four-year halving cycle is breaking, competition for computing power from AI data centers, the state of the hash rate market, and how younger generations are approaching bitcoin savings.

DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.