A Bitcoin whale ‘woke up’ for the first time in 14 years and moved 10,000 BTC from one crypto wallet to another.
We don’t know who this person is, but we do know this account is worth 10 figures now.
The initial investment was worth around $7,800 back then, and it is now worth $1.1 billion.
And somebody came up with a scary theory behind this transaction.
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Bitcoin is creating new millionaires and billionaires
Bitcoin skyrocketed in value over the last six months, and it absolutely exploded over the last five years.
At the time of writing, one BTC is worth $110,000, and it was worth $62,000 in July 2024.
The price fluctuates a lot, but many investors got BTC when it was worth peanuts. And unless they sold it to buy some pizza or accidentally threw their hardware in a landfill, most of them are millionaires or billionaires.
This Bitcoin whale certainly is.
When the wallet first received 10,000 BTC, that amount was worth $7,800.
Today? That’s $1.1 billion.
The unsettling theory behind this transaction
It’s not exactly a scientific matter, but broadly speaking, the term Bitcoin whale is generally used for people who own more than 10,000 BTC. Which incidentally is exactly the amount this person transacted.
It’s almost impossible to identify the owner of this wallet.
But what we do know is that this person is believed to have been involved either with Bitcoin’s creator Satoshi Nakamoto, or with people who worked closely with whoever Satoshi is, or possibly, was.
We know this because this transaction was sent to what people call a ‘legacy’ Bitcoin address, as in one of the very first ones.
And there seems to be an unwritten, unspoken agreement between these long-term crypto holders to never sell their BTC.
This explains why well over 70 percent of these wallets have been dormant for a decade or more.
And it’s also the reason why now some people are saying this 10,000 BTC transaction, which was followed a few days later by an even bigger transaction, may be the result of a hack.
Hopefully that’s not the case.
Let’s keep hoping that the owner woke up one day and thought:
“I’m done waiting. I’m now a billionaire and I’m off to the beach, bye.”
We can all dream, right?
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The post Person who made $7,800 Bitcoin investment and left it untouched for 14 years finds it’s now worth $1.1 billion appeared first on Supercar Blondie.
