This is 2,800% increase at current price
A mysterious bitcoin whale has managed to “catch” $95 million in profit over the years from 5,000 BTC purchased at $686 per coin. on-chain data tracker whalemap Reports, “Someone redeemed 5000BTC yesterday, making a huge profit of $95,000,000. The original acquisition price for him was $698, which is an increase of 2800% over the current price.
As reported by U.Today, a Bitcoin whale address that was created back in 2013 moved 5,000 BTC worth nearly $100 million yesterday.
There are still questions about the reactivation of such wallets and whether the owner had the necessary conviction to keep the coins for nearly nine years.
The most plausible explanation is that someone unintentionally discovered their long-lost private keys and gained access to an enormous fortune. It is also possible that the wallet was reactivated after its owner succeeded in unlocking it. Also, it cannot be ruled out that the holder might have such strong convictions.
In recent weeks, some similar bitcoin wallets have come to life after years of inactivity. Addresses that originated in the time of the enigmatic bitcoin creator, Satoshi Nakamoto, often aroused the most public curiosity.
Ki Young Ju, the CEO of CryptoQuant, stated that people who own “older” coins, particularly in considerable amounts, probably need to avoid calling attention to their recently increased fortune.
A Cryptoquant research into old fund movements reveals who these “mysterious” bitcoin whales may be; These whales were probably early visionaries who accumulated bitcoins through mining and trading or simply depositing coins coming from crypto bitcoin exchanges just before they were “hacked”.
65% of Bitcoin supply unmoved in last year
A large chunk of the Bitcoin supply has remained unmoved in the last year, which remains a worrying signal. According to information from on-chain analytics platform Glassnode, “The volume of Bitcoin supply that has remained unspent for at least 1 year has reached a new ATH of 12.589 million BTC. This is equivalent to 65.77% of the circulating supply. Increasing dormant supply is a characteristic of Bitcoin bear markets.”
Bitcoin was marginally up at $19,970 after touching the $20K mark earlier.
