49 Bitcoin’s Fundamentals Didn’t Skip A Beat During The Crisis in 2022 And Continued Apace In 2023 2 Bitcoin’s Hash Rate , A Proxy for Network Security, Bitcoin Network Stats 2022 2023 Hit An All-Time High In 2023 600 Price $16,553 $42,225 500 1 3 Market Cost Basis $380.7 $427.7 2 ($ Billions)1 0 2 400 Hash Rate2 /s N s I 254.3 523.2 3 N (EH/s , 14-Day Average) he OI 300 C Supply Of BTC Last ahas T Moved >1 Year Ago (%) 66.5% 70.2% x BI E BTC Addresses With 43.3 51.7 200 3 Non-Zero Balance (Millions) 4 Long-Term Holder Supply 14.1 14.8 100 (BTC, Millions) Transaction Count5 256.2 367.5 (Non-Inscriptions Related, Thousands) 0 Apr 22 Jul 22 Oct 22 Jan 23 Apr 23 Jul 23 Oct 23 [1] The on-chain volume-weighted average price of the market, calculated by aggregating the value of all bitcoins in circulation at the time when they last moved. Also known as realized price or realized cap. [2] The estimated computational power mining within and providing security to the Bitcoin network. [3] Number of addresses in the Bitcoin network with a balance larger that zero. [4] Bitcoin supply last moved 155 days ago or more, the threshold at which the possibility of a bitcoin remaining unmoved increases drastically. [5] Number of transactions between two addresses of the Bitcoin network. Sources: ARK Investment Management LLC, 2024, based on data from Glassnode as of December 31, 2023. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security or cryptocurrency. Past performance is not indicative of future results.