Billionaire Ricardo Salinas's advice to treat Bitcoin like a house and hold it for the long term is being echoed by recent on-chain data, which indicates that seasoned investors are staying calm despite the current market correction.
In a report by CoinDesk, Salinas urged individuals to buy and store Bitcoin without constantly monitoring its price, comparing it to owning a house rather than trading a speculative asset. This philosophy aligns with the behavior of long-term Bitcoin holders, as highlighted by analyst Darkfost. Using the Cumulative Value Days Destroyed (CVDD) indicator, Darkfost noted that the metric has fallen to around 0.3, a level historically seen during bear markets or significant corrections.
The CVDD tracks selling activity from long-term holders. A low reading suggests that coins held for extended periods are not being moved to exchanges for sale. This contrasts sharply with March 2024, when the CVDD surged past 2 and reached 4, signaling a market top as long-term holders actively sold. The current low CVDD implies that experienced investors are not panicking and likely expect higher future prices.
Darkfost also referenced a 2020 Glassnode study showing that Bitcoin held for over 155 days is less likely to be moved, reinforcing the idea that these investors are less reactive to short-term price swings. The calmness of long-term holders provides a counter-narrative to fear-driven headlines and suggests the correction may be temporary. However, patience is required, as these holders may wait for higher prices before taking profits.
