50 Percent Of All Bitcoin SV (BSV) Is Never Moved: Report

A new report by the British entrepreneur and investor Alistair Milne shows that even 50 percent of all the Bitcoin SV (BSV) supply is never moved, signalling a lack of demand for the cryptocurrency.

The Bitcoin SV news today also show that as the CIO of Atlanta Digital Currency Fund, Milne has rubbed a lot of salt into the wounds of Bitcoin SV (BSV) investors right on the so-called “Bitcoin Independence Day” which marks one year since the controversial fork stormed the cryptocurrency space.

The fact that around 50 percent of all Bitcoin SV has never been moved signifies a lack of demand for the Bitcoin offspring. According to Milne, miners are currently in a serious predicament since them selling their dragon coins would inevitably tank the BSV price.

“Around 50% of all $BSV mined is never moved. Hoarded by miners who can’t sell as it would collapse the price due to lack of any organic demand. How long can they sustain this for?,” he wrote.

Around 50% of all $BSV mined is never moved. Hoarded by miners who can't sell as it would collapse the price due to lack of any organic demand.
How long can they sustain this for?

— Alistair Milne (@alistairmilne) November 14, 2019

Meanwhile, we can see that Bitcoin SV has a flair for such price moves. While the current value of the cryptocurrency is stable, it bleed throughout the whole delisting debacle and suddenly pumped by 90% on May 21 on the news that the self-proclaimed Satoshi Craig Wright was recognized as the author of the Bitcoin white paper by the US Copyright office.

Still, Milne’s comments about 50 percent of all Bitcoin SV (BSV) never been moved spread like wildfire in the latest cryptocurrency news and are seen as a possible indicator of a weak momentum for the price of the altcoin.

After such “organic” growth like the one the coin demonstrated this summer, Bitcoin SV remains a tickling bomb which might blow in the face of its investors any minute now. However, what’s visible is that the coin does not have a use case.

Back in June, for instance, news showed that a single weather app is responsible for 98% of all the BSV transactions. One thing is certain at this point – if 50 percent of the total BSV supply is never moved and if all indicators are a lie, we could see the balloon popping very soon and the price of Bitcoin SV (BSV) going lower than our expectations.