Bitcoin Highlights the Benefits of Playing the Long Game
A cryptocurrency wallet containing 2,207 Bitcoins (roughly $150 million at current prices) has become active for the first time in over eight years, according to blockchain tracker bot Whale Alert.
These coins were worth $ 294,287 when the address in question went inactive, meaning they appreciated 51,044% during the aforementioned period.
The wallet transferred $129 million worth of Bitcoin about an hour ago.
While it is not clear exactly why the owner of the wallet decided to move his coins now, it can be assumed that he wants to see massive gains during Bitcoin’s ongoing rally after resisting two brutal bear markets.
As reported by U.Today, the largest cryptocurrency price touched $69,000 for the first time, but it then shed some of its latest gains.
It’s also possible that the hodler was lucky enough to lose access to the address and get his mnemonic phrase back eight years later.
In January, former Ripple CTO Stefan Thomas revealed that he couldn’t access his Bitcoin wallet, which is currently worth $469 million.
