Bitcoin Whale Raises $44 Million for First Time in 10 Years—Here's How Much You Gained

A mysterious holder has moved around $44 million worth of Bitcoin (BTC) after receiving it more than a decade ago and ultimately collecting dust over that time.

According to blockchain data, 687.33 BTC (currently worth $43.7 million) was moved late Sunday after a 10-year dormancy. According to the data, the coin first arrived at the address in January 2014, when 1 BTC was worth less than $900, and it has not moved since then.

According to CoinGecko, the price of BTC is currently $63,467, meaning the lucky investor is looking at a return of 7,228%.

Interestingly, blockchain data suggests that the yet-to-be-identified owner paid less than $2 in transaction fees to move the coin on Sunday.

CryptoQuant, which monitors blockchain activity, said. Decryption Since this coin was obtained from block rewards dating back to 2011, it is very likely that the BTC belongs to early miners.

Bitcoin miners are people or organizations that work to keep the Bitcoin network running. They use computers and large amounts of energy to mint new coins and process transactions, in return for which he receives compensation in BTC.

In the world of cryptocurrencies, Bitcoin whales are investors who hoard large sums of assets and don't touch them for years.

But today's movement was not created by whales. Typically, an investor is considered a Bitcoin whale if he holds at least 1,000 BTC, or the equivalent of at least $63.5 million. Such “HODLers” are typically large institutions or companies.

Regardless of your definition of a whale, long-term holders are shown to be the most successful investors, as the price of BTC has only risen steadily over the past decade despite some volatility along the way. I am.

Edited by Andrew Hayward