The cryptocurrency analyst firm Whale AlertAfter 12,4 years, an inactive Bitcoin wallet (BTC), has been activated. The wallet has 119 BTC valued at $6.99 million. BTC was purchased for $599 by the owner of wallet in 2012. The value of the portfolio has increased by around 1,000,241%.
BTC was one of most profitable assets over the last 15 years. Early crypto investors in early 2010s earned millions and even billions of dollars.
What happened to the Bitcoin wallet after 12.4 years?
Owners of wallets may be tempted to liquidate their assets and make profits now that BTC is experiencing a correction. Whales may expect BTC to drop even more. BTC fell below $58,000, the lowest level since early May. Assets are down by 4.4% on the daily chart, 6.4% on the weekly chart, 13.4% on the 14-day chart and 17% compared to the previous month. It is possible that the owner of the wallet wanted to get as much money as they could and decided to sell.
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The wallet could have been lost for a long time and the owner regained the access after that.
The owner of the Bitcoin wallet has not yet decided whether to sell his holdings. This wallet hasn’t made any transfer yet. The whale’s BTC could be sold if it sends it to an exchange.
Also Read: Bitcoin Dips Below $58K, Is It Time To ‘Buy the Dip?’
A whale is an excellent example of the importance of patience when it comes to investing. BTC has performed better than any tech stock or other commodity or equity in the past ten years.
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Source: watcher.guru