The Bitcoin blockchain makes it possible to make special discoveries. In this case, @JA_Maartun tracked down a transaction of 420 Bitcoin that hadn’t moved since 2012. At that time, Bitcoin was still trading below $15 each.
$7.1 million
At current prices, the lucky whale’s 420 Bitcoin is worth about $7.1 million. At the time, he bought them for a total of $6,300. In that respect, it is an unprecedented profit, which the whale earned by surviving several bull and bear markets. The reason behind the transaction is unknown, although there is a chance that the whale in question wants to cash in and sell his Bitcoin.
Although the price has fallen considerably from the all-time high of November 2021, this whale will not be extremely sad about it. Of course he would have preferred $28.98 million for his 420 Bitcoin at the all-time high, but an amount of $7.1 million on an investment of $6,300 is not bad either.
Not the first time
It is not the first time that old wallets sell during this period. In the month of November, more than 5,000 Bitcoins were moved that had been at the same address for over 10 years. The Bitcoin community has now also started December with a resurrection of a relatively large amount of old Bitcoin.
The biggest movement with Bitcoin over 10 years old was that of November 11. At that time, the Bitcoin price fell from about $18,000 to less than $17,000. Subsequently, an old whale decided to sell 3,741 Bitcoin for an amount of approximately $63.5 million.
At the time of writing, Bitcoin is especially struggling to climb back up. It was briefly successful to regain the $ 17,000, but the price is now below that again. Perhaps the traditional Christmas rally can bring some green to the plates again.