Bitcoin whale awakens: How 4,400 USD became over 53 million
- A suddenly resurfaced Bitcoin whale demonstrates how powerful a long-term buy-and-hold strategy can be with BTC. The early investor was last active on November 13, 2012, when his coins were worth a modest $4,400.
- Almost 13 years later, the $479.69 in his Bitcoin wallet is equivalent to approximately $53 million. His spectacular fiat return: up to 1,200,000 percent. He probably couldn't have invested his money better during this period.
- The movement of Bitcoin from very old wallets regularly causes excitement in the crypto community. Some of these wallets are linked to Satoshi himself. You can find out who the BTC inventor might be here: The Genius Behind Bitcoin.
- As data from blockchain explorer Mempool shows, the Bitcoin whale made five transfers totaling 81.25 BTC this Thursday morning, corresponding to a total value of $8.92 million.
- It remains unclear whether the early Bitcoin investor is simply transferring his coins to more modern addresses or intends to sell them soon. So far, none of the recipient addresses have been clearly identified as belonging to a crypto exchange.
- Just recently, another Bitcoin whale rocked the crypto market by selling an even larger sum of 24,000 BTC for approximately $2.7 billion. As a result, the BTC price temporarily fell by more than $3,000.
- According to Bitcoin influencer Willy Woo, the current cycle is slower than previous ones because a large portion of the supply is in the hands of a few whales, who are now increasingly taking advantage of the opportunity to realize some of their fiat profits.
- At the time of writing, the leading cryptocurrency is trading at $109,600, down 2.2 percent from the previous day. Find out what the future holds for the BTC price in the new BTC-ECHO Invest podcast:
Recommended Video Bitcoin weak and gold stronger than ever – Is this the opportunity?
Sources
- BTC address of the whale I mempool
- X-Post by Willy Woo
