Bitcoin Whale Returns, Turns $30M Into $535M In 5 years

A previously dormant Bitcoin whale has returned after 5 years to reap their profits, turning a $30 million investment into $535M. The whale became active on June 11, moving 8,000 BTC to a Binance address. If the investor chooses to sell now, they realize over $500 million in profits at current prices.

According to blockchain data from Lookchain, the Bitcoin address acquired 8,000 BTC on December 6, 2018, at a dollar-cost average of $3,810. According to the math, this would equal a roughly $30M investment into the asset. Since its recent surge to new all-time highs following ETF approval, many Bitcoin whales and investors are seeing huge profits on their reserves.

Typically, sending assets to a crypto exchange shows an intention to sell or to realize a 5-year profit. This whale’s intentions aren’t understood quite yet, but their potential rewards certainly are.

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At press time, Bitcoin is trading at $66,462.30. Despite the asset being down 4% in 24 hours, the overall profit for this whale certainly outweighs the present drop. When the whale picked up their Bitcoin in December 2018, the asset wasn’t even above $15,000 yet. In fact, the first Bitcoin hard fork had only just happened three months prior. The approval of Spot Bitcoin ETFs by the SEC in January 2024 sent the asset to record highs. Many more investors can follow in this whale’s footsteps and invest.

With overall price predictions bullish, this will certainly not be the last Bitcoin whale to return from dormancy to exponential profits.