Crypto trading is all about timing, cryptocurrency, and trading strategies. However, one more important factor builds or destroys the trade: patience. It is also called HODL, or holding the cryptocurrencies for a designated time or until the price doesn’t match investors’ expectations. With the same technique, a satoshi-era crypto whale turned a few bucks BTC holding into $180M as the Bitcoin price is attempting new all-time highs.
Dormant Crypto Whale Deposited $180M Bitcoin
With the bulls driving the crypto market, a new enthusiasm has taken over the crypto traders, causing the sentiments to turn to extreme greed and cryptos flourishing with gains. This happened after the Bitcoin price began to rally, with Donald Trump becoming the new US president. As a result, many dormant crypto whales have returned to the market to take advantage of this bullish market. One such whale has returned after fourteen years with BTC holdings worth $180M per current BTC price.
Spot On Chain, a popular analytics platform, revealed that a Satoshi-era wallet has resurfaced with a 2000 BTC holding. The whale mined these BTC in the early days of this crypto when its price had almost no value. However, at the same time, the mining block reward was 50 BTC, but the same is 3.125 today, clarifying how long this whale has been holding all these tokens. The Bitcoin whale came to notice when it began depositing all these cryptos on popular crypto exchanges like Coinbase, Bitstamp, and BitFlyer, gaining everyone’s attention.
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
The Spot On Chain data reveals that the whale has deposited all Bitcoin holdings to three exchanges. It includes 1,038.87 $BTC ($92.93M) to Coinbase, 591.46 $BTC ($52M) to BitFlyer, and 369.66 $BTC ($33.04M) to Bitstamp.
Meanwhile, many similar crypto whales are also active. One such whale dumped 850K WIF tokens, booking $7.5 million in profits.
Bitcoin Price Aims A New ATH
Bitcoin has been highly bullish since November 6, 2024. Since then, the Bitcoin price has created multiple new highs, bringing heavy profits for its holders. With the most recent ATH of $93,434.36 three days ago, BTC first consolidated for a while before indicating another upcoming rally.
Based on its high demand and users’ greedy sentiments, many analysts have claimed that Bitcoin price will hit $100K before November ends. It is currently trading at $91,246.67 after a 3.4% surge in the last 24 hours. More importantly, this ongoing rally is inviting dormant crypto whales or long-term investors to benefit from their BTC holdings.
The post Crypto Whale Earns $180M After 14 Years of BTC Holding appeared first on CoinGape.