A Bitcoin (BTC) whale recently moved around 80,000 BTC, realizing an extraordinary profit after holding the coins inactive for nearly 14 years.
Data from Lookonchain shows that the wallet was inactive since January 2011, when it acquired the Bitcoins at a unit price of approximately $0.393.
Now, with the price of BTC close to $118,000, the investor has accumulated a profit of over 30,000,000%. At current values, the 80,000 Bitcoins sold are worth around $9.3 billion, marking one of the largest individual sales ever recorded in the history of cryptocurrencies.
The institutional crypto asset company Galaxy Digital revealed that it facilitated the sale. In an official statement, Galaxy highlighted that this operation was "one of the most expressive Bitcoin transactions in history," representing one of the first and most significant outflows from the market by an investor from the Satoshi era.
Blockchain analyst JA_Maartun confirmed that the transferred coins were associated with the same investor who used Galaxy's services to sell the assets. Another specialist, Ki Young Ju, CEO of CryptoQuant, speculated that the Bitcoins could be linked to the old service MyBitcoin.com, which was shut down in 2011 after suffering a hacker attack.
Whenever an inactive wallet starts moving again, the market becomes apprehensive. Typically, sales of this magnitude generate negative pressure on the price due to the expectation of large amounts of the asset entering the market.
However, this time the movement did not significantly drop the value of Bitcoin, which remains strong near its recent all-time high of $122,838. Specialists, like Mike Ermolaev, founder of Outset PR, point out that the market has matured quite a bit in recent years, better withstanding large liquidations. The stars aligned with Bitcoin
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