Patience has proven to be a game-changer in crypto trading, as illustrated by a Bitcoin whale from the Satoshi era who turned an early investment into a staggering $180 million.
This whale, inactive for over 14 years, emerged as Bitcoin rallied toward new all-time highs, fueled by market optimism and a bullish sentiment.
Yesterday, a Satoshi-era Bitcoin wallet holding 2,000 $BTC ($178M) woke up after 14 years of dormancy!
In the past 24 hours, this wallet has deposited all its $BTC to exchanges, including:
• 1,038.87 $BTC ($92.93M) to #Coinbase
• 591.46 $BTC ($52M) to #BitFlyer
• 369.66 $BTC… pic.twitter.com/fDIzQX8Dqj— Spot On Chain (@spotonchain) November 16, 2024
Analytics platform Spot On Chain reported that the whale held 2,000 BTC mined during Bitcoin’s infancy when the reward per block was 50 BTC, a stark contrast to today’s 3.125 BTC. Initially worth next to nothing, these holdings have skyrocketed in value amid Bitcoin’s surging price.
Recently, the whale deposited the entire stash across three major exchanges: $92.93M worth to Coinbase, $52M to BitFlyer, and $33.04M to Bitstamp, drawing significant market attention.
This event isn’t isolated, as other whales have also become active during the rally. For instance, one investor recently sold 850,000 WIF tokens, pocketing $7.5 million in profits.
A well-regarded crypto analyst believes that Bitcoin (BTC) could experience a final, explosive rally before the current market cycle concludes.
Dan Tapiero, a seasoned macro investor and hedge fund manager, sees potential for a significant Bitcoin surge if the U.S. economy hits a downturn that pushes the Federal Reserve toward aggressive rate cuts.
Bitcoin rose steadily in April, breaking through the psychological barrier of $100,000.
As global crypto companies reconsider their U.S. strategies due to rising geopolitical tensions, Hive Digital Technologies is betting on Latin America — specifically Paraguay — as its next growth frontier.