Chart of the Day
What a climb. The active supply chart offers insight into the proportion of Bitcoin supply that is older than one year in each cycle. Peak HODL is defined when the volume of supply older than one year hits a maximum. Looking at past cycles, the peak HODL has been on a constant rise, indicating HODLers’ increased confidence in Bitcoin’s growth potential. An all-time high is usually achieved shortly after reaching a peak HODL, followed by massive profit-taking and Bitcoin entering a consolidation phase.
Talk of the Town
What do burritos and bitcoins have in common? A lot apparently! $200,000 worth of “a lot” to be exact. Mex-Tex restaurant chain Chipotle will be giving away $100,000 in free burritos and $100,000 in bitcoins to celebrate National Burrito Day, which happens to fall on April 1. We know what you’re thinking: April Fools’ joke, right? Apparently not. The event was reportedly inspired by Coil CEO Stefan Thomas’ experience of losing the password to his hard drive that stored $387 million worth of Bitcoin. The interactive game “Burrito or Bitcoin” encourages participants to embark on a “rescue mission” by cracking the code to Chipotle’s digital wallet. Nacho typical Burrito Day, aye? Sorry, we had to slide that in.