Bitcoin Whale Cashes in $180M After 14 Years of Inactivity

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.