A 9yr. old Bitcoin Wallet has suddenly sprung back to life with a massive 345,618% surge in value! Talk about the power of HODLing.
Out of the blue, an ancient and dormant cryptocurrency wallet that contained Bitcoin that was reportedly worth around $28.35 million has suddenly seen movement!
Bitcoin wallet discovered
The Bitcoin wallet was first noted by Decrypt which was then also reported by Benzinga. The reports said that the wallet laid dormant without any activity whatsoever for almost nine years! The data came from Blockchain.com.
The wallet actually received 616,2004 $BTC that was worth $8,195 on December 10, 2012. During that time, $BTC had already started trading at around the $13.30 mark.
Mysterious wallet comes to life
A couple of years later, the owner of the mysterious wallet moved the $BTC directly to another wallet. Additionally, the pot’s value has also grown by a whopping 0.00001 $BTC through a total of 21 transactions of small quantities that took place over 12 years.
These micro movements amount to about 46 cents as of the $BTC rates during the time of writing this article. During press time, $BTC traded just 4.32 lower over the course of 24 hours at $45,980.55.
Bitcoin wallet owner gained 345,618.41%
The owner of this specific Bitcoin wallet was able to gain a whopping 345,618.42% to be exact by simply holding the cryptocurrency investment over the years. The Bitcoin wallet is reportedly an illustration of the point that early investors within the apex cryptocurrency who actually purchased $BTC for small amounts are currently the whales of today.
As of this 2021, $BTC’s price has grown a whopping 56.86% ever since January, 2021, in comparison, Spot Gold has actually fallen by 7.90% while the official S&P500 index was able to return 19.79%.
Crypto hodlers cashing out
Just last 2020, a certain Bitcoin wallet suddenly cashed out a whopping $500,000. This then prompted unfounded speculation that was reportedly connected to Bitcoin’s pseudonymous creator known as Satoshi Nakamoto.
Although not everyone has cashed out their earlier gains, more and more crypto whale movement has been seen as of recent as more and more people get into cryptocurrency as well.
Like other assets, some of the best ways to earn is from buying, waiting a long while, then selling. Although conventional swing trading is also a way to earn from the volatility of a certain asset, this can be a complicated process and is not recommended for beginners.
When swing trading or even trading cryptocurrency, it is important to have the right set of indicators to follow instead of randomly buying low and potentially selling even lower. As shown in the Bitcoin wallet, sometimes the best way to earn is to buy and have patience.