Bitcoin Whale Turned $120 Into $179 Million—All It Took Was HODLing for 14 Years
Someone held 2,000 Bitcoin from a price of $0.06 to nearly $90,000 before moving them to Coinbase late Thursday.
When people talk of Bitcoin being a store of value asset, they’re talking about examples like this one: A whale on Thursday moved 2,000 Bitcoin—worth $179 million—after not touching the stash for 14 years.
Blockchain data shows that the whale—a crypto investor with huge holdings—received the coins in 2010 when they were worth $0.06 a piece. In total, they held $120 worth of orange coins back then.
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The whale moved the “digital gold” to American crypto exchange Coinbase late Thursday after watching their holdings appreciate by nearly 150,000,000%—presumably to sell. Journalist Pete Rizzo first flagged the movements on Twitter (aka X).
Bitcoin is now priced at $89,538, according to data from CoinGecko. It touched an all-time high of over $93,000 on Wednesday after surging by about $20,000 since Election Day.
In the crypto world, whales are investors who hoard large amounts of digital coins and sit on them for years, watching their value skyrocket. A lot of Bitcoin whales are likely groups of people or companies who were involved in mining the asset during its early days.
Although the oldest and biggest cryptocurrency sees short-term volatility, over the long-term, it typically appreciates more than most other assets—bringing “HODLers” huge returns.
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good God, this is a profit margin I've never seen before this is seriously. But what I'm thinking about is how many BTC whales are preparing to cash out when it hits 100K
It shows how diamond hands can really pay off.