A deep-pocketed crypto holder who bought Bitcoin (BTC) nearly 12 years ago is suddenly moving the flagship digital asset at a massive profit.
On-chain data shows that on Thursday the previously dormant crypto wallet moved 31.90 Bitcoin worth $1,810,404 at the time, a gain of 487,122%.
The Bitcoin was bought for under $12 in 2012.
Says blockchain tracker Whale Alert,
“A dormant address containing 31 BTC has just been activated after 11.9 years (worth $362 in 2012)!”
The ancient wallet is among several long-dormant addresses that have recently awoken.
Says Whale Alert,
“A dormant address containing 35 BTC ($1,990,206) has just been activated [on Thursday] after 10.5 years (worth $21,632 in 2014)!”
Late last month, crypto tracker BitInfoCharts clocked the transaction of an ancient Bitcoin address that moved 64.59 BTC after sitting on it for more than 13.5 years. At time of the move, the Bitcoin was valued at $4,142,579, an increase of more than 6,426,000%. The wallet first received the Bitcoin in February 2011, when the top crypto asset was priced at $0.998 per BTC.
Also in late August, Whale Alert noted a wallet moved 25 BTC worth $1,597,432 million after lying low for 11 years. The coins were worth only $3,098 when the wallet acquired it in 2013. Around the same time, another wallet moved another 25 BTC valued at $1,584,860 after remaining dormant for 11.5 years. That 25 BTC was worth only $664 in February 2013.
Bitcoin is trading for $56,183 at time of writing, down more than 3% in the last 24 hours.
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Generated Image: Dalle3