​Bitcoin's significant shrinkage.

Unlike our boy George, we welcome shrinkage.

The percentage of Bitcoin kept on exchanges has just shrunk to 12.2% (the lowest it's been in almost 5 years).

Here's why we're celebrating this:

Bitcoin being transferred onto an exchange, is like a house being listed on Zillow (it indicates the intent to sell).

Too many property listings in a single area, and scarcity drops (bringing home prices with it).

If the opposite happens, and property listings dry up, home prices tend to rise as the market becomes more competitive.

Same goes for Bitcoin.

The more that is removed from exchanges (and into private wallets) → the scarcer Bitcoin becomes → the greater the likelihood of the price rising.

This sort of shrinkage is great to see any time in any market cycle - but it's especially significant now, given how much of a funk the markets have been in over the past 6-8 months.

A widespread 'intent to hold' indicates folks have confidence in BTC, in the near term.

We love to see it!