Miners are holding the least Bitcoin on their balance sheets since February 2010, but the fiat value of their reserves is hovering around an all-time high.
The amount of Bitcoin held by miners has dropped to its lowest total in more than 14 years, according to data from IntoTheBlock.
On June 19, miner reserves fell to 1.90 million Bitcoin (BTC) after starting the year with 1.95 million BTC.
According to Lucas Outumuro, head of research at IntoTheBlock, miners are expected to hold less Bitcoin over time as the halving pressures their margins, making them more likely to sell their reserves.
