Dormant Bitcoin address with 10,400% gain resurfaces, holding $8.59 million worth of BTC

From Investing.com

07/10/2024:

After over a decade of dormancy, a Bitcoin address containing 149 BTC worth $8.59 million has reemerged, marking a 10,400% gain from 2013. The whale holding the coins has achieved one of the biggest trading profits in the market. Bitcoin’s milestones since 2013 could be motivating factors for the address’s revival.

Many dormant Bitcoin wallets have resurfaced recently, but this whale’s funds remain untouched. Speculation surrounds when and where the funds will be moved, considering the evolving Bitcoin ecosystem. Potential investment opportunities within DeFi and Ordinals Inscription may influence the whale’s decision on when to liquidate.

Bitcoin has experienced a 1.89% price increase in 24 hours to $58,681.74, providing some relief after a significant drawdown. The cryptocurrency’s resilience and steady growth signal potential for further gains in the near future. As the whale contemplates selling off their holdings, market fluctuations remain a key consideration.

Read more at Investing.com: Dormant Bitcoin (BTC) Address Back to Life After 10,400% Gain By U.Today