As an experienced analyst, I find this news intriguing. The recent movement of a Bitcoin whale who last transacted over a decade ago, selling 687 BTC worth approximately $43 million, is a significant event in the crypto market. With Bitcoin’s price increase by almost 70 times since then, it’s safe to say that the whale made a substantial profit from their long-term holding.
A Bitcoin whale that has been dormant for over 10 years moved 687 BTC worth $43 million.
Based on data from Lookonchain, I discovered that I received approximately 687.33 Bitcoins (BTC) on January 12, 2014. At that moment in time, each Bitcoin was worth around $917, resulting in a total value of roughly $630,000 for this transaction.
As a researcher, I’ve uncovered some intriguing data. Ten and a half years ago, on January 12, 2014, an anonymous wallet received a transaction of 687.33 Bitcoins, equivalent to approximately $630,000 at the time, with the Bitcoin price hovering around $917. Recently, just ten minutes ago, all 687.33 BTC, now worth over $43 million at current market value, were transferred out from this wallet. The receiving address is 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G.— Lookonchain (@lookonchain) May 6, 2024
Ten years have passed, and the value of Bitcoin has soared nearly 70-fold since the user’s sale, amounting to over $42.7 million at present prices.
In April, significant Bitcoin holders, owning a minimum of 0.1% of the entire Bitcoin circulation, acquired approximately 19,760 Bitcoins for a combined investment of around $1.2 billion, with an average buying price of roughly $62,500 per coin.
Large-scale Bitcoin investors, who own more than 0.1% of the total Bitcoin supply, purchased approximately 19,760 coins at an average price of $62,500 each on the previous day. Historically, acquisitions by these addresses have frequently signaled potential market upturns.
— IntoTheBlock (@intotheblock) April 19, 2024
The balances of these Bitcoin addresses typically grew larger before the value of the first cryptocurrency started to rise. Two days prior to the halving event, significant Bitcoin holders made purchases.
Since the beginning of 2024, Bitcoin whales have amassed an extra 266,000 BTC, which is equivalent to around $17.3 billion in value. (Santiment’s statement)
I, as a researcher, found that individuals holding Bitcoin balances between 1,000 and 10,000 coins obtained approximately 1.24% of the entire 21 million coin supply during the specified timeframe.
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2024-05-06 18:36