A massive Bitcoin investment, untouched for over eight years, has finally been moved. Blockchain analytics firm Arkham Intelligence tracked the transaction, revealing a whopping $250 million worth of Bitcoin in motion.
A Decade-Long Hold
This “Bitcoin whale,” as these large investors are known, originally purchased the Bitcoin on Coinbase back in late 2016. The investment, initially worth around $3 million, has now grown to a staggering $250 million—an 83x increase. This means the investor held onto their Bitcoin for nearly a decade before deciding to move it.
Not an Isolated Incident
This isn’t the only instance of long-dormant Bitcoin wallets springing back to life. In December, another wallet, inactive for 11 years, moved over $257 million worth of Bitcoin. This particular wallet had accumulated its Bitcoin in December 2013 when the price was just $625.84 per coin. The 11-year hold resulted in a mind-boggling 15,137% return.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading around $87,003, up slightly for the day.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before making any investment decisions.
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