A long-dormant Bitcoin whale, inactive for 14 years, has shocked the crypto world by moving 20,000 BTC, worth $2.18 billion. This significant transfer, identified by blockchain trackers, signals a potential shift in market movements as Bitcoin approaches a record high. The whale, holding bitcoins since 2011, reaped a staggering 140,000x return on an initial $109,246 investment.
Whale Reaps 140,000X Return
This Bitcoin whale acquired 20,000 BTC in April 2011 at $0.78 per coin, totaling $109,246, per blockchain data. Like an early miner or investor from the Satoshi era, the wallet remained untouched for 14.3 years. Dormancy could stem from lost keys, a strategic hold for price appreciation, or the owner’s absence.
Such long-term inactivity often reflects early adopters’ belief in Bitcoin’s future or personal circumstances like incarceration or death. The wallet’s massive value today, $2.18 billion, highlights the holder’s patience or unintended absence.
Will a Cash Out Sway the Market?
Analysts suggest the whale may be preparing to sell, capitalizing on the current market peak. Institutional buying, like BlackRock’s ETF inflows, has fueled bitcoin’s price surge in recent years.
In 2011, Bitcoin traded at a mere $0.78, a price that made it a cheap asset for early adopters. A $109,246 investment then could buy 20,000 BTC. Today, such an acquisition is worth $2.18 billion at today’s price of $108,978, reflecting a staggering 139,000% surge. This growth reveals Bitcoin’s meteoric rise from an experiment to a global financial force, driven by increasing adoption and institutional interest.
Back then, volatility was high but less impactful due to low market participation. Price swings were often tied to early miner activity or regulatory news. Recently, BTC’s price has shown less volatility due to widespread adoption. This has reflected in its price, which recently neared its all-time high (ATH) of $110,000. At the time of writing, the leading crypto sold for $107,800.
Aggressive buying and selling by whales have increased volatility, with 836.4 BTC flowing into exchanges in recent days. Long-term holders, controlling 14.7 million BTC, or roughly 70% of the total supply, remain largely steadfast. On the other hand, institutional interest is growing, with 255 public companies holding approximately 3.47 million BTC, which accounts for about 4% of the total supply.
Whale movements, such as this $2.18 billion transfer, could influence prices if sales follow. However, many holders remain committed.
