As a seasoned crypto investor with over a decade of experience under my belt, I must say that the recent awakening of the 2013 Bitcoin whale has left me both impressed and cautious. Having navigated the volatile seas of cryptocurrency since its early days, I’ve learned to appreciate the power of patient hodling, but also the risks that come with sudden movements in the market.
A Bitcoin (BTC) account from 2013 that was once considered inactive for over 11 years has suddenly reappeared, as revealed by Whale Alert. This wallet, named “12YJoU,” was last active on Sept. 17, 2013, but today it became active again by sending 16,943 BTC, currently worth approximately $1.15 million, to a new and unidentified wallet.
Initially, this wallet was given this sum from Bitstamp, the first crypto exchange in the world, back in 2013. At that time, the transaction equated to approximately $2,160. Fast-forward more than a decade, and this anonymous investor has accumulated an astounding 53,118.47% return on their investment. This translates to a yearly average growth of around 4,828%, a feat that even the most skilled stock managers struggle to achieve in one year, let alone over eleven years.
☕ An inactive Bitcoin address holding approximately 16 coins (valued at around $1,147,359 today) has recently become active again, having been dormant for a little over 11 years (equivalent to around $2,160 worth of Bitcoin in the year 2013)!
— Whale Alert (@whale_alert) October 27, 2024
Despite our congratulations towards the unidentified investor for amassing over a million dollars, it’s challenging to view this event in a wholly positive manner due to concerns that the surge might stem from the necessity to liquidate excessively profitable Bitcoin holdings.
In recent months, there’s been a notable resurgence among early Bitcoin investors, often referred to as “whales.” This is significant because Bitcoin, the primary cryptocurrency, surpassed its prior price peak and has since fluctuated near that level, creating anticipation among many for another price surge.
The stirring of the long-time BTC holders, who are transferring vast amounts of Bitcoin into unidentified locations and currently holding astronomical returns, may disrupt bulls’ strategies. It might seem that as more ancient Bitcoin whales become active, fewer will remain in the shadows, but it can prove incredibly challenging to fathom the true extent of their holdings.
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2024-10-28 17:13