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Bitcoin Holders Double Down in Early April as Value Buyers Step In, Veterans Hold Firm

Since the start of April, bitcoin (BTC) has experienced an unusual increase in conviction from both short-term and long-term holders. According to Glassnode, short-term holders—those who have held bitcoin for less than 155 days—are typically more reactive to price movements, often buying during periods of euphoria and selling during downturns. However, of late, short-term holders appear to have become value-driven buyers despite bitcoin currently sitting roughly 25% below its all-time high. Since the start of April, this group has grown by around 15,000 BTC, now holding a total of just over 3.7 million BTC. That said, since February, they have distributed approximately 280,000 BTC—likely a mix of profit-taking from the November–December rally, which followed President Donald Trump’s election win. That`s in addition to panic selling during bitcoin`s 30% drawdown from its January all-time high. Long-term holders—those who have held for at least 155 days – have boosted their coin stash by 400,000 BTC since February, with small amounts acquired this month, taking the overall tally to over 13.5 million. This suggests growing conviction among long-term holders, even amid recent price stagnation. While bitcoin has remained relatively flat since the start of April, Nasdaq is down 3.5% in the same time frame, with futures pointing to a further 3% decline. BitcoinSistemi

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Bitcoin Will Fail If It Remains Just a Store Of Value, Warns Jack Dorsey

Jack Dorsey, CEO of Block and former CEO of Twitter (Now X), has cautioned that Bitcoin may risk losing relevance if it remains solely a store of value. Speaking during an interview at Presidio Bitcoin, Dorsey emphasized the necessity for Bitcoin to evolve beyond mere “hodling” to ensure its long-term viability, highlighting the importance of enhancing Bitcoin’s utility. “I think it fails through irrelevance,” Dorsey stated. “If it just ends up being store of value and nothing more, I don’t think it gains relevance at all. I think it has to be payments for it to be relevant on the everyday.” Dorsey emphasized that for Bitcoin to succeed long-term, it needs to transition into a practical payment system used in daily transactions. Without this evolution, he believes Bitcoin could become something people “kind of buy and forget and only use in emergency situations.” The tech entrepreneur further pointed to emerging circular economies in regions outside the Western financial bubble as evidence of Bitcoin’s potential. “ You get down to Central America, South America, Africa… people are using Bitcoin to buy coffee, to buy dinner, to pay vendors. There’s tiny little circular economies happening, and they’re not talking about price,” he explained. His comments come as Bitcoin maximalists continue to be criticized for their rigid stance against innovation beyond the original Bitcoin protocol and their reluctance to embrace layer-two solutions that could enhance Bitcoin’s utility. Dorsey challenged maximalist thinking by expressing that the community “can do better than Lightning,” referring to the Lightning Network, a popular second-layer solution designed to enable faster Bitcoin transactions. “ I don’t think we just want to settle with having one layer two. I think we need to experiment a whole lot more and have different alternatives,” he said. Notably, several projects are already working toward making Bitcoin more open and accessible, including efforts to improve scalability, privacy, and payment functionality. Cardano , for example, has been developing interoperability solutions that could potentially enhance Bitcoin’s utility while maintaining its fundamental value proposition. Under Dorsey’s leadership, Block is also actively contributing to this vision through projects like an open-source mining rig, self-custodial wallet development, and their Cash App’s Bitcoin exchange. These initiatives aim to further decentralize Bitcoin’s infrastructure and make the cryptocurrency more accessible for everyday use. That said, as BTC approaches its 17 th year, Dorsey believes it stands at a crossroads. “ We have not lived up to that potential…we’re still pretty far away from it actually,” he noted, referring to Bitcoin’s original vision of “a peer-to-peer electronic cash system.” For Bitcoin to fulfill its promise as a true alternative to government-controlled currencies, he suggested the community must continue building “simple, accessible experiences that solve the payment use case” while making the network faster and more private, giving “real competition” to traditional payment networks like Visa and Mastercard. BitcoinSistemi