Original Crypto Pioneer from 2011 Realizes Profits, Sees Massive 322,000-fold Increase in Bitcoin investment
A Bitcoin whale wallet, dormant since 2011, has recently moved its entire holding of 3,962 BTC after 14.5 years of inactivity. The transaction, worth approximately $469 million at today's value, represents an enormous 322,000x gain for the original investor who made an initial investment of around $1,460 when Bitcoin was worth approximately $0.37 per coin.
The wallet's activity began with a small test transaction of 0.0018 BTC, a common practice to confirm control over the wallet and ensure successful transfer. After this confirmation, the wallet’s entire balance was moved to a new address, signaling a deliberate and possibly strategic withdrawal.
Possible reasons for moving these coins now include the recovery of lost access, intentional long-term HODLing, market conditions and liquidity needs, or following precedents set by other dormant whales from the early Bitcoin era.
In the same time frame, 110,868 ($404 million) Ethereum tokens have entered Ethereum ETFs, while Bitcoin ETFs have seen a net outflow of 751 BTC ($89 million) over the past day, with Fidelity's FBTC fund leading the outflows.
Interestingly, the current Bitcoin price is $118,900, unchanged from one week ago, while Ethereum ETFs have seen significant inflows. Notably, Binance has taken a significant share of the volume in the altcoin boom.
In a related development, on-chain sleuth Lookonchain pointed out the movement of this Bitcoin whale wallet on X and also shared the latest inflow/outflow data for Bitcoin and Ethereum ETFs in an X post.
- The enormous gain from the 2011 Bitcoin whale wallet's activity suggests that investing in cryptocurrency, like Bitcoin, can yield substantial financial returns over a long period.
- The recent movement of cryptocurrency, such as Ethereum, into ETFs could indicate a growing interest in finance and investing, as well as a potential shift in strategies for managing market liquidity and risk.
