A crypto whale with the wallet tagged ‘bc1qlf’ has reportedly cashed out 750 Bitcoin worth about $83 million, held for more than a decade.
Long holding and sales
According to on-chain data, the trader initially bought 5,000 Bitcoin back in 2012 for only $332 each. At that time, the total investment was worth less than $2 million. The Bitcoin remained untouched until recently when the whale began selling after Bitcoin price rose above $90,000.
Successes in the Bitcoin market
Since the sales began, the wallet has sold about 1,750 Bitcoin, valued at roughly $189 million. Initially, the whale sold small amounts ranging from 100 to 250 Bitcoin to Binance. Later, larger amounts were transferred, including a 1,500 Bitcoin transaction worth $166 million, which became one of the largest single transactions.
Financial results and profits
From the initial purchase amount, the whale has made $550 million in profit, which is about 331 times the original investment.
In conclusion, the crypto whale has been able to achieve significant financial returns on its investments despite holding Bitcoin for over a decade. The current market situation also shows an uptrend, suggesting new opportunities for investors.
