A 10-year-old hibernating bitcoin whale has been spotted moving a whopping 1,432.93 BTC [$37.8 million] to a new address, “bc1psv”.
According to well-known data tracker Lookonchain, the “Satoshi Era” whale received 1,432.92 BTC on April 9, 2013, when the price was just $195.4 per BTC.
Bitcoin is currently trading above $26,000. So if they decide to sell immediately, they would make an incredible profit of almost $36.97 million. Here’s how.
The anonymous whale in question had bought 1,432.92 BTC for $195.4 each, which, assuming the BTC price was $26,000 in 2013, means an initial investment of about $280,000.
Crypto investors and experts typically watch out for such large transfers from dormant BTC whales as these transactions have the potential to have a significant impact on the market.
Such moves are becoming more common: In April, another sleeping HODLer moved 400 bitcoin — worth nearly $11 million at current prices — after not transacting for nearly 12 years.
The data platform that tracked his movements showed that the major holder had transferred 360 BTC [$9.8 million] to a wallet while the remaining 40 BTC are transferred to a number of other locations
The term “whale” refers to individuals or organizations holding more than 10,000 BTC.
These cohorts of large-scale hoarders often keep their millions of dollars in digital assets hidden, only occasionally re-emerging to transfer their holdings to new locations.
Bitcoin HODLers remains the most profitable investor study
Sometimes whales on a spending spree can push up the price of bitcoin, while token dumping can have the opposite effect.
To put it in perspective, “Bitcoin whales” are people who hold significant amounts of BTC, including governments, exchanges, corporations, and institutions. Now that some of these bitcoin whales are influencers, people often seek their advice to gauge market sentiment.
The vast majority of successful investors are whales as Bitcoin is up a whopping 40,000% over the past decade. According to studies, those who hold cryptocurrencies for a longer period of time benefit the most, while inexperienced retail investors who buy and sell cryptocurrencies often tend to lose money.
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