Bitcoin Whale Moves $378 Million After Four Years
- A bitcoin wallet, holding approximately 4,582 BTC, transferred coins worth $377.6 million.
- The wallet received these bitcoins on March 3, 2020, just days before the Covid-19 market crash.
- Four addresses received exactly 1,000 BTC each, while one address got about 582 BTC.
- When the coins first arrived, they were valued at around $40.8 million, reflecting a ninefold increase in value.
- The wallet had not made any outgoing transactions for over four years until a small transfer in August.
This significant transaction marks a notable moment for the bitcoin market as it demonstrates the long-term holding strategy of large investors during volatile periods like the Covid-19 crash.
The recent transfer of 4,582 BTC illustrates how early holders have seen substantial gains over time, with values rising from $40.8 million to $377.6 million since their initial acquisition.(Source)
