The last time when he “touched” his crypto was 2012 — the still early years of Bitcoin and only two years after the enigmatic Satoshi Nakamoto opted to go under the radar.
While back at the start that Bitcoin was worth only $476, now, in July 2024, this crypto is valued at $2,498,054. This constituted crazy 524,701% profit growth.
Earlier this week, Whale Alert published data on several other dormant wallets that had been unearthed containing millions worth of Bitcoin each.
However, other category of users have just been patiently waiting, watching as the world’s flagship cryptocurrency has been gradually rising in price over the past 10 to 12 years and then decided to call it a day and lock in their huge profits.
This year, Bitcoin reached a new price all-time high when it hit $73,750 on March 14. That historic price surge was largely caused by two main factors. The first one was the enormous Bitcoin buying spree started by spot BTC ETFs in January, when those 11 ETFs bought roughly 10,000 BTC per week.
The second one was the anticipation of the fourth Bitcoin halving by the global community. The event took place on April 20 and it slashed Bitcoin block rewards earned by miners from 6.25 to 3.125 BTC.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
