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Tuesday, June 11, 2024
HomeCryptoBitcoin whale awakens, turns 30 million USD into 535 million USD after...

Bitcoin whale awakens, turns 30 million USD into 535 million USD after 5 years

Bitcoin whale wakes up after 5 and a half years turning an investment of 8,000 BTC worth $30 million into $535 million.

A Bitcoin whale that had been dormant for five and a half years went live on June 11, transferring its 8,000 BTC to a Binance address. Through this, this whale will received more than 500 million USD in profits if sell all BTC at current price.

According to cryptocurrency tracking platform Lookonchain, this whale has 8,000 BTC with an average cost of about 3,810 USD. This corresponds clause investment worth 30 million dollars on December 6, 2018.

Immediately after that, this whale has been inactive for about 5.5 years and just woke up today to transfer his entire balance to Binance. At the price at the time of Lookonchain’s post, 8,000 BTC worth $535 million, showing profits of more than 500 million USD.

However, it seems this Bitcoin trader missed the all-time high in March BTC costs 73,805 USD and is 20 times higher compared to the time this whale bought 8,000 BTC.

At the time of writing, Bitcoin saw a significant decline on the day as BTC was trading for $66,542.3, equivalent to down 4.72% in the last 24 hours.

A company listed on Nasdaq has accepted Bitcoin as a reserve asset

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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