According to data from Arkham, a long-dormant Bitcoin (BTC) whale has moved 1,042 BTC to a new wallet after 6 years of inactivity. The wallet originally received the BTC in 2017, when Bitcoin was trading at approximately $8,746 per coin. At the time, the whale paid around $9.12 million for the entire purchase.
With Bitcoin’s current price now soaring to approximately $117,560 per BTC, the total holding is valued at a staggering $122.54 million. This move reflects a profit of over $110 million for the whale. Such activity often captures the attention of analysts and market watchers, as wallet movements from dormant whales can influence market trends and signal significant shifts in sentiment.
Can You Still Make Millions With Bitcoin (BTC)?
Bitcoin (BTC) has consistently ranked as one of the best-performing assets over the past decade and a half, delivering returns that have outpaced major tech stocks like Apple and Amazon, as well as traditional investments like real estate and gold.
Since its creation in 2009, BTC has grown from being a niche digital currency to a globally recognized asset class, widely adopted by both retail and institutional investors. While some believe the opportunity to profit significantly from BTC has passed, others argue that the cryptocurrency is still in its early stages of mainstream adoption.
Several industry experts predict that Bitcoin (BTC) could surpass $1 million by the end of this decade. Binance founder Changpeng Zhao (CZ) recently suggested that BTC might reach between $500,000 and $1 million this cycle. Similarly, Ark Invest CEO Cathie Wood has expressed confidence that BTC will eventually hit the $1 million milestone.
Bitcoin (BTC) has reached significant milestones in its journey, with the SEC’s approval of spot BTC ETFs in 2024 marking a turning point. These ETFs have opened the door for major financial institutions to enter the crypto market, fueling substantial adoption. Inflows from ETFs have driven a massive price surge, pushing BTC to a record high of $123,091 on July 14. Many traders and investors believe this rally is just the beginning.
Nation-state adoption of BTC is also accelerating. Earlier this year, the US introduced a digital asset reserve, and other countries are following its lead. If you think it’s too late to capitalize on Bitcoin’s growth, think again—this could be just the start of a new chapter in the crypto revolution.
Also Read: Your $1k in Ripple (XRP) Could Skyrocket—If XRP Hits $5 Or $10
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
