The crypto community has buzzed with the news of a long-dormant Bitcoin whale from 2012 resurfacing onto the market.
Reemergence of the Bitcoin Whale
According to Spot On Chain, an anonymous entity owning a stash of 400 BTC has become active. These Bitcoins were purchased for just $2,091 and are now valued at $35.8 million, reflecting a profit of 1,712,099%.
Crypto Community Reaction
The unknown owner deposited 200 BTC, worth about $17.9 million, into the crypto exchange Bitstamp and moved another 351 BTC to a new wallet. This activity prompts concern among market participants as large sales can potentially affect cryptocurrency prices.
Market Implications
Despite significant sales, Bitcoin's price continues to rise, with some coins remaining outside major platforms and moving between wallets. The activity from long-term holders, known as "diamond hands," suggests potential market shifts ahead.
The reappearance of long-term investors sparks varied reactions in the community, making the future developments intriguing to watch.
