50 BTC purchased in 2010 for $2 sold for $3.4 million
50 BTC purchased in 2010 for $2 sold for $3.4 million
Ancient whales are reaping hundreds of thousands of percent in profits from Bitcoin.
According to blockchain tracker Whale Alert, on Friday, a cryptocurrency holder who bought Bitcoin over 14 years ago sold it, realizing a 169,358,650% profit. The 50 BTC, purchased in 2010 for $2, have now turned into $3,387,175.
On the same day, an even larger Bitcoin holder, who had been inactive for over twelve years, moved 400 BTC worth over $27 million to an exchange.
These are not the only cases of astronomical profits from decade-old investments.
On Thursday, Whale Alert detected a whale who “woke up” after more than 13 years and sold 150 BTC with a profit of 394,933%. The 150 BTC had been purchased in 2011 for $2,540 and were now sold for $10,033,846.
Meanwhile, at the time of writing, Bitcoin is trading above $67,000, up 0.7% in the last 24 hours and down 2% for the week.
Despite this, open interest reached a record high of $32.9 billion, demonstrating investor confidence in Bitcoin's continued growth.
