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Bitcoin whale awakens: from $4,400 to $53 million

An early Bitcoin investor has come back after almost 13 years, and his return is spectacular.

By Luc Vesters
• 2 min read
Bitcoin whale awakens: from $4,400 to $53 million

An early Bitcoin investor is back in action after almost 13 years, and his return is spectacular. When he last did anything with his wallet in November 2012, his 479.69 BTC were worth only $4,400 in total. Today, those same coins represent a value of just over $53 million, a gain of nearly 1.2 million percent.

According to blockchain data from Mempool, the whale sent five transactions Thursday morning totaling 81.25 BTC (about $8.9 million). Whether it’s a sale or just moving coins to newer addresses remains unclear. For now, the receiving addresses aren’t linked to exchanges.

Movements of old wallets often stir the community. A while back, another whale even sold 24,000 BTC ($2.7 billion), which temporarily knocked the price down by more than $3,000.

View post on X is proceeding at a slower pace in this cycle, in part because a large portion of supply is in the hands of such whales. When they decide to cash out, it can cause significant volatility.

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