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Bitcoiner from Satoshi Era Earns $175M Profit after Hodling for 9 Yrs

Published 22/04/2023, 09:13
Bitcoiner from Satoshi Era Earns $175M Profit after Hodling for 9 Yrs

  • Bitcoin wallets from the Satoshi era have become active, transferring millions.

  • An investor bought $3.3M Bitcoin in 2013, earning a profit of over $175 million.

  • Glassnode’s NUPL value reports a neutral market in a transitional phase.

Whale Alert, an AI service tracking the massive movement of coins across blockchains, has captured an intriguing development. On Saturday, Whale Alert reported that a Bitcoin (BTC) wallet from the Satoshi era has suddenly become active.

After ten years of dormancy, the crypto whale reawakened with a big move. The whale, which possesses a massive 1,128 BTC or $31.6 million, has recently transferred 279 BTC worth $7.8 million to three new addresses.

This unexpected development caused a stir in the crypto community, as the whale had been inactive since October 2012 and May 2013, when the prices of Bitcoin were a mere $12 and $195, respectively.

On Wednesday, Whale Alert captured the movement of a more massive whale. It revealed that a dormant address containing 6,071 BTC worth over $178 million today had been activated after 9.3 years. Interestingly, the investor bought its Bitcoin with $3.3 million in 2013, earning a profit of over $175 million within a decade.

Bitcoin currently trades at $27,336, with a 10% crash in price over the past week. Glassnode, a prominent crypto analytics platform, recently reported that the current Net Unrealized Profit/Loss (NUPL) value for the crypto market is 0.36, indicating a state of neutrality.

In other words, the market is currently neither bullish nor bearish but rather in a transitional phase. Glassnode’s data shows that 55.8% of days have recorded higher NUPL values than the current level, while 44.2% have recorded lower values.

The post Bitcoiner from Satoshi Era Earns $175M Profit after Hodling for 9 Yrs appeared first on Coin Edition.

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