Crypto retail traders hold onto bitcoin - YAHOO FINANCE
Yahoo Finance Live checks out trends in bitcoin as a majority of crypto owners hold continue to hold onto the digital asset.
AKIKO FUJITA: Well, Bitcoin has been on a wild ride of late. But research from Morgan Stanley finds that a record proportion of Bitcoin units, 78% of the total, haven't been used for a transaction in six months. That means that retail buyers have been holding, despite the crypto winter.
The investment bank says, one possible explanation is anyone who bought or received Bitcoin in the past year and a half has an average break-even purchase price of roughly $45,000. It also finds that institutions are now the dominant traders on a day-to-day basis.