A dormant Bitcoin whale is now back to life after registering a total growth of more than 994,000%, a sign of BTC’s long-term potential
After more than a decade of dormancy, a Satoshi-era Bitcoin (BTC) has shown signs of activity. Crypto tracking service Whale Alert noted that the wallet stored 100 BTC in 2012. At that time, the Bitcoin holding was valued at around $605. The current price is $61,348.90, and the same wallet is worth approximately $6.13 million.
Bitcoin Wallet Gains 994,495% in 12 Years
In 12.7 years, this Bitcoin wallet has recorded a profit of 994,495%. While the reason behind the sudden reactivation is unknown, the whale may likely offload the holding. The massive growth reflects Bitcoin’s potential to provide astronomical profits to patient investors willing to HODL their funds long-term.
💤 A dormant address containing 100 #BTC (6,017,301 USD) has just been activated after 12.7 years (worth 605 USD in 2012)!https://t.co/ANaiRZIbmk
— Whale Alert (@whale_alert) October 11, 2024
Bitcoin has exhibited its ability to bag meteoric growth over the years, from having no value to becoming the most capitalized coin. Despite its recent price fluctuations, including the weekly 0.47% per CoinMarketCap, the coin remains one of the best performing, with over 127% year-over-year growth.
At the time of this writing, its trading volume has also soared by 7.78%. The exact value for this metric is $30.57 billion, making it the crypto with the second-largest trading volume after Tether (USDT).
The surge in this metric underscores investors’ growing interaction with the flagship cryptocurrency. Since the coin is now above its 60,000 support level, it may now chart growth toward a new high.
MicroStrategy To Become First Trillion-dollar Bitcoin Bank
Michael Saylor-led MicroStrategy is a corporate firm that has demonstrated confidence in Bitcoin’s future potential. This business intelligence and software company consistently invests in BTC.
Last month, MicroStrategy made a fresh purchase of 7420 BTC, at an average price of $61,750 per coin. The total purchase is approximately $458.2 million.
As a result of that last acquisition, its portfolio now has 252,220 BTC. In a recent development, Saylor highlighted that MicroStrategy’s end game with this frequent Bitcoin accumulation strategy is to become the world’s first trillion-dollar Bitcoin bank. This statement triggered a mixed reaction from the community.
Quite a few people believe that the Bitcoin advocate is reaching for the impossible. However, a few others think MicroStrategy is on track to achieve this feat.
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