$524 Became $3.78M as Bitcoin Holder Moved 59 BTC After 13 Years
After weeks, the crypto market is in a better stage, where the user’s sentiments are finally out of the fear zone. Even the global market capitalization is at a new peak in weeks, currently at $2.21 Trillion. It came after the surge in the Bitcoin price, influenced by the Fed’s interest rate cut of 0.50%. This has boosted the entire crypto market, where one Bitcoin holder got the biggest benefit as it came out of 13-year dormancy, making $3.8 Million from just $524.
This holder’s journey represents the crypto market’s functioning and how crypto traders made millions in the last few days. However, there is still a long way to go, bearing market volatilities and uncertainties before the bull run hits the market.
Bitcoin Holder 59 BTC Investment Made $3.78 Million
It has been said multiple times by experienced crypto traders to keep the crypto holding for long for higher gains, and this one Bitcoin holder has taken it seriously as he has been holding BTC for 13 years now. The Whale Alert, a blockchain tracker, revealed this dormant Bitcoin whale re-entering the market after 13.1 years, carrying 59 BTC worth 3,781,424 USD.
A dormant address containing 59 #BTC (3,781,424 USD) has just been activated after 13.1 years!https://t.co/2Cys4x7E04
— Whale Alert (@whale_alert) September 20, 2024
This Bitcoin whale made the last transaction in August 2011, when the BTC price was around $8.79. With this, his $524.96 has turned into $3.76 Million, bagging an ROI of $3,759,475.04.
Interestingly, despite having such heavy profits, the owner is still holding all these tokens and has only made a small transaction to test the transfers. The platform revealed that the Bitcoin holder made its first transaction in 13 years, transferring 0.00000778 BTC ($0.49) at 03:36 a.m. (UTC) today.
Even Arkham Intelligence has confirmed the crypto whale holding all the 59.723 BTC, worth $3.76M at the current Bitcoin price of $62,905.00. It indicates the holder’s strong trust in the token and his expectation of new highs despite making a profit of 725,357% in its BTC investment.
Bitcoin Price To Surge $120K?
In the last few days, Bitcoin has gained quite a momentum, as the price has surged 9% over the week, currently trading at $62,905. It is quite an impressive achievement for the token as September is known to be a losing month historically, followed by an uptrend in October. Many analysts have called it to the early beginning of Uptober, whereas many doubt it to be another lower high, causing uncertainties in the market.
Amid these uncertainties, the Fed’s decision to implement a 0.5% rate cut after four years might boost the BTC price. Additionally, with the upcoming bull run and Uptober, many analysts have claimed the Bitcoin price to rise as high as $120K.
The price target for this #Bitcoin bull flag is $120k.
Are you mentally prepared? pic.twitter.com/v6yWljKeYp
— Crypto Rover (@rovercrc) September 16, 2024
Final Thoughts
After the sudden boost in the market, a Bitcoin whale has re-entered the crypto market with 59 BTC, worth $3.78 Million at the current BTC price. Interestingly, this Bitcoin holder has had these tokens for 13 years, gaining these at merely $524, and the same are worth almost $4 million today. He still holds all these tokens and has made a small transaction of 0.00000778 BTC ($0.49) to test the transactions. More importantly, as many analysts anticipated the Bitcoin price to rise $120K, the same investment would grow to $7,080,000.
The post $524 Became $3.78M as Bitcoin Holder Moved 59 BTC After 13 Years appeared first on CoinGape.
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