The digital finance landscape was taken by storm as a dormant bitcoin whale stirred from its slumber after more than eight years of inactivity. In a stunning display of financial might, the entity moved a staggering total of 2352.62 BTC across 80 wallets, all of which were established around the same timeframe. This portfolio, now valued at an impressive $168.5 million, showcases the monumental appreciation of the asset amid a recent price surge.
On March 10, 2024, the enigmatic bitcoin whale executed the transfer of 2352.62 BTC from 80 wallets, culminating in a transaction valued at $168.5 million, marking the end of an eight-year period of quiescence. Over this hiatus, the value of the portfolio skyrocketed by more than 29,000%.
The majority of these accounts were created between September and November of 2015, a time when bitcoin's trading price averaged around $238, according to data from CoinMarketCap.
At that time, the investment cost the holder approximately $560,000. By March 10, 2024, when the asset movement was recorded, the portfolio's value had soared to $163 million.
With the asset experiencing a new leap, which led bitcoin to reach a new all-time high, its value further escalated to $168.5 million.
This transaction follows previously reported activity where a bitcoin whale from the Satoshi Nakamoto era moved 1000 BTC, valued at over $68 million.
There has been a noticeable increase in such transactions lately, a phenomenon attributed to the sharp price fluctuations of bitcoin. The reasons behind these dramatic shifts were explored in a separate piece, highlighting the volatile nature of the cryptocurrency market and the impact of significant holders on market dynamics.
