A new shockwave hit the cryptosphere when it became known thanks to a Monday report from Whale Alert, an unknown ancient Bitcoin (BTC) whale woke up after nearly 11 years of hibernation.
This whale has experienced a mammoth growth on its initial Bitcoin investment.
Long-Dormant Whale Earns Huge Profit
An ancient Bitcoin whale has come back to life from over a decade of hibernation.
The mysterious address, which contained 18 BTC, equivalent to a staggering $1,132,682, transferred some of its holdings to two other new wallet addresses.
The last transactions of this ancient Bitcoiner were made 10.9 years ago, in Nov 2013. At that time, the owner’s total BTC stash was worth roughly $10,883. This constitutes a staggering 10,409% profit increase.
A dormant address containing 18 #BTC (1,132,682 USD) has just been activated after 10.9 years (worth 10,883 USD in 2013)!https://t.co/wsCwt15gZL
— Whale Alert (@whale_alert) October 13, 2024
2013 was a pretty volatile year for Bitcoin’s price. At the beginning of the year, BTC was worth only $13. By April, it suddenly jumped to $266 before crashing to $50 per coin. The top crypto rocketed to $1,000 a coin in November following widely increasing adoption and speculation.
In recent months, WhaleAlert has announced several ancient Bitcoin whales had reactivated their wallets after over a decade of dormancy. Each of them witnessed massive percentage gains in profits.
This basically shows the success of BTC as an investment over the years. While Bitcoin is infamous for its high volatility, the top crypto has still emerged as one of the most profitable assets in the financial world. The revival of the latest ancient wallet illustrates the benefits of being a long-term cryptocurrency holder.
Bitcoin was trading at $64,914 at press time after a 3.42% surge in the last 24 hours, as per Coingecko. The asset is now 12.2% away from its all-time high of $73,757, set back in March of this year.
