A Bitcoin whale that has remained inactive for over a decade recently transferred 687 BTC, valued at $43 million.
According to Lookonchain data, this whale received 687.33 Bitcoins (BTC) on January 12, 2014, when BTC was priced at $917, translating to a value of around $630,000 at the time.
Fast forward ten years, with Bitcoin’s price soaring nearly 70 times, the whale sold its holdings for over $42.7 million, capitalizing on the cryptocurrency’s remarkable appreciation.
In April, significant investors, holding at least 0.1% of Bitcoin’s total supply, acquired 19,760 BTC for a total of $1.2 billion, with an average purchase price of $62,500. Historically, such accumulation by large addresses has often preceded price surges in Bitcoin, with whales notably buying assets just before halving events.
Moreover, Santiment reported that Bitcoin whales have accumulated an additional 266,000 BTC since the beginning of 2024, valued at $17.3 billion.
Entities holding balances between 1,000 BTC and 10,000 BTC have amassed 1.24% of Bitcoin’s total supply of 21 million BTC during this period.
Summary Review: The recent movement of $43 million worth of BTC by a long-dormant whale highlights the evolving dynamics within the Bitcoin market. As cryptocurrency values surge, long-term holders capitalize on substantial gains, reflecting the significant appreciation of Bitcoin over the past decade. Additionally, the continued accumulation of BTC by large investors and whales suggests confidence in the asset’s long-term value and potential for future growth. This trend underscores the ongoing maturation of the cryptocurrency ecosystem, with Bitcoin remaining a focal point for institutional and individual investors alike.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
