As a researcher with years of experience in the dynamic world of cryptocurrencies, I find this recent event involving the reactivation of a 10.8-year dormant Bitcoin whale account absolutely intriguing. The transformation of that initial investment of $91,940 into a staggering $6.12 million is a testament to the potential rewards of long-term Bitcoin investing. If I had invested in this whale’s Bitcoin back in 2014, I would have been looking at a return of 665.6% per year, a figure that most traditional investments can only dream of achieving!
In simpler terms, a dormant Bitcoin account, which hadn’t been used for over ten years, has recently become active again. This long-dormant large Bitcoin holder initiated activity by moving 100 BTC from the old address “17tdW8” to the new address “bc1qqy6.” This information comes from a well-known crypto transaction monitoring service called Whale Alert.
11 years back, I purchased this cryptocurrency for only $91,940. Now, its value has skyrocketed to a staggering $6.12 million.
This is a great example of how well this long-term Bitcoin (BTC) investor has done, with a massive 6,656% return. If you look at the whole period since the start of 2014, you get 665.6% per year, which is a fantastic return.
⌛ An inactive Bitcoin address holding approximately $6,113,890 suddenly became active again after a decade and eight years, which was equivalent to around $83,492 back in the year 2014!
— Whale Alert (@whale_alert) October 4, 2024
It’s unclear at this point what caused the dormant wallet to become active once more. It could be that someone recalled their recovery phrase. Alternatively, it might be due to an early investor choosing to transfer funds to a modern wallet that supports smaller transactions, SegWit compatibility, and is more future-ready.
It’s interesting to point out that the unidentified investor chose to sell their Bitcoin following the announcement of a new HBO series speculating about who Satoshi Nakamoto truly is, the anonymous inventor of cryptocurrency. This show is scheduled for October 8th, and its creators assert they will expose Nakamoto’s real identity. Whether this revelation is accurate remains to be seen, but the timing of these events is quite striking.
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2024-10-04 13:31