230,000% ROI in a Decade: Long Dormant Bitcoin Whale Emerges as BTC Price Nears $70K
Bitcoin’s impressive price rally persists as the cryptocurrency recently surged above $69,000 and came close to breaching the $70,000 mark. This surge in price coincides with increased activity from significant Bitcoin investors, as indicated by on-chain data.
Several on-chain data providers, including Lookonchain and Whale Alert, detected the first movement from a whale. This undisclosed investor had accumulated approximately 4,300 BTC over ten years ago at an average price of less than $30. Surprisingly, this transaction marks the whale’s first Bitcoin transfer from this wallet in over a decade. The investor moved 246 BTC, valued at nearly $17 million based on yesterday’s prices.
Considering the investor’s average acquisition price of $29.39 in 2013, the return on investment (ROI) has skyrocketed to a staggering 230,000%.
Additionally, Lookonchain reported the purchase of almost 114 BTC ($7.85 million) by another whale a few hours ago. This particular investor has been on a buying spree in the past month, acquiring 1,308 BTC since March 6.
These whale transactions align with Bitcoin’s recent price surge on Sunday, where it reached a five-day high of $69,800. However, surpassing the coveted $70,000 level remains elusive for now, although Bitcoin continues to trade north of $69,000.