CryptoSlate's chief analyst, James Van Straten, stated that in the 15 years before Bitcoin was born, it was mostly individual investors who were buying. They are easily affected by fluctuations and economic cycles, mainly bearing profits and losses, but ETFs have changed this situation. New buyers of Bitcoin will buy and hold for more than 10 years. As of last month, investors who have held Bitcoin for 10 years or longer hold over 3 million Bitcoins, accounting for 15% of the circulating supply. The number of tokens held by this group is greater than the total number of tokens on all exchanges, with a total amount of bitcoins on exchanges being two million.