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An unidentified holder moved nearly $44 million worth of Bitcoin (BTC) after receiving the coins a decade ago, eventually letting them gather dust.
Blockchain data showed that 687.33 BTC, currently worth $43.7 million, was moved late Sunday after a decade-long dormancy. Data shows that the coin first arrived at that address in January 2014, when 1 BTC was worth less than $900, and has not been moved since.
According to CoinGecko, the current BTC price is $63,467. This means the lucky investor is earning a return of 7,228%.
Interestingly, blockchain data shows that the yet-to-be-identified owner paid less than $2 in transaction fees to move the coins on Sunday.
CryptoQuant, which monitors blockchain activity, said: decryption Since the coins come from a 2011 block reward, it is likely that the BTC belongs to an early miner.
Bitcoin miners are people or organizations who work to keep the Bitcoin network running. It uses computers and a lot of energy to create new coins and process transactions, for which you are rewarded with BTC.
In the cryptocurrency world, Bitcoin whales are investors who have amassed huge amounts of assets and haven’t touched them for years.
But today’s movements were not created by whales. Typically, an investor is considered a Bitcoin whale if he or she holds at least 1,000 BTC, or at least $63.5 million worth of Bitcoin whales. These ‘hodlers’ are usually large institutions or companies.
Regardless of what defines a whale, long-term holders appear to be the most successful investors, as BTC prices have risen steadily over the past decade despite volatility.
Editor: Andrew Hayward
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