230,000% ROI in a Decade: Dormant Bitcoin Whale Awakes as BTC Price Heads Toward $70K
Bitcoin’s price recovery continues as the asset jumped to over $69,000 and came close to challenging $70,000 hours ago.
This price fluctuation comes amid increased activity from large BTC investors, according to on-chain data.
The first whale move was observed by several on-chain data providers, such as Lookonchain and Whale Alert. The resources informed that a Bitcoin investor who had accumulated a notable stash of nearly 4,300 BTC a decade ago at an average price of less than $30 had decided to move a small portion.
Interestingly, this was the anonymous whale’s first Bitcoin transfer (at least for this wallet) in just over ten years. They moved 246 BTC, worth close to $17 million at yesterday’s prices.
Given their average purchasing price of $29.39 in 2013, this whale’s ROI since then is a mindblowing percentage of 230,000%.
A whale with 1,701 $BTC($115.42M) woke up after 10 years of dormancy and transferred 246 $BTC($16.73M) out 20 mins ago.
The whale received 4,272 $BTC($125,541 at the time) in 2013 at an average price of only $29.39.
Address:
1CLxmHRhoi9VpSj5QihqPEdbhLL8E1oeUZ pic.twitter.com/W45On1Q7vb— Lookonchain (@lookonchain) April 6, 2024
Lookonchain also outlined another whale’s purchase. This one came just a few hours ago and was for almost 114 BTC ($7.85 million). This investor has been on a buying spree within the past month, having purchased 1,308 BTC since March 6.
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Their most recent purchase came amid BTC’s early Sunday price increase. As reported yesterday, the asset had calmed at around $67,000 but continued to increase gradually during the day. The most substantial gains came earlier today when Bitcoin pumped to a 5-day high of $69,800.
Nevertheless, the cryptocurrency has failed to overcome the coveted $70,000 level, at least for now, but still stands north of $69,000.
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