After more than five years of inactivity, a significant Bitcoin whale, a term used to designate holders of large amounts of cryptocurrencies, resurfaced on the scene this Monday, moving a colossal amount of 8,000 BTC to a wallet on Binance, one of the main trading platforms. cryptocurrency exchange. This investor’s action signals a potential intention to sell, a development that captures the attention of operators and market analysts.
This Bitcoin whale originally acquired the 8,000 BTC on December 6, 2018, when the average value of each Bitcoin was around $3,810, as reported by Lookonchain. This initial investment, which totaled approximately US$30 million at the time, would now have an astonishing appreciation, reflecting the exponential growth of the cryptocurrency market over the last few years.
A wallet that had been dormant for 5.5 years transferred 8K $BTC($535.64M) to #Binance 40 mins ago.
The wallet received 8K $BTC on Dec 6, 2018, when the $BTC price was $3,810.https://t.co/zvxAKbHKi6 pic.twitter.com/ZKZHdm4JkR
— Lookonchain (@lookonchain) June 11, 2024
If Bitcoins were sold at current prices, the return on this investment would be astronomical, exceeding US$535 million. This operation draws attention not only for its volume, but also for its strategic timing, suggesting that even the most dormant investors are attentive to market opportunities.
Transactions of this magnitude typically indicate liquidity preparedness, with the owner possibly capitalizing on gains accumulated over several years of hodling – a popular term in the cryptocurrency space that suggests holding onto an investment regardless of market fluctuations.
At the time of publication, the price of BTC was quoted at US$66,432.06 with a drop of 5% in the last 24 hours.
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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/sinal-de-venda-baleia-bitcoin-movimenta-8-000-btc-apos-cinco-anos-de-inatividade/
