A large Bitcoin investor has been spotted moving a quarter of a billion dollars worth of BTC after lying low for over eight years.
Data from blockchain analytics firm Arkham traces the BTC to Coinbase, the largest US crypto exchange, where the deep-pocketed investor bought the BTC before holding on to the stash for nearly a decade.
“$250 million BITCOIN WHALE WAKES UP AFTER eight YEARS
A Bitcoin Whale that has held BTC since late 2016 has just moved over $250 million in BTC…
His Bitcoin stack went from $3 million in early 2017 to over $250 million today – and he’s held Bitcoin on one address for over eight years.”
If the whale were to sell their coins, it would mark about 8,233% returns in just over eight years.
In December, another ancient Bitcoin wallet suddenly sprung to life and moved more than $257 million worth of BTC after 11 years of slumber.
The crypto tracker Lookonchain first spotted the unknown address, which moved 2,700 BTC to another wallet in early December.
The long-dormant wallet received the trove of BTC in December 2013, when the top crypto asset only cost $625.84. BTC was priced at $95,361 at the time of the transfer, meaning the USD value of the wallet’s holdings skyrocketed by a staggering 15,137% in 11 years.
At time of writing, Bitcoin is trading at $87,003, up over 3% on the day.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Generated Image: Midjourney
Read the full article here
Follow us on Google News to get the latest Updates
