In an economic view of supply and demand.  with 70% unmoved, it means the market is being hoarded and creating an artificial scarcity of supply in the market.  We know that any market being hoarded and creating an artificial scarcity makes the price skyrocket.  This is a clear indication that the item(Bitcoin) is being sold at an overpriced value.  So when the time comes that this 70% is reinjected to the market, the valuation of Bitcoin will be greatly affected.

So in a scenario where that 70% is injected into the market and join the active circulation, the $1m realization will be greatly hampered unless the adoption catches up with the sudden inflow of these inactive Bitcoin supply.