The post Here’s How a Bitcoin Whale Turned $120 to $182M in 14 Years appeared first on Coinpedia Fintech News
Most Bitcoin investors believe that BTC is the ultimate store-of-value asset in the cryptocurrency landscape. Nonetheless, there are a few BTC investors who are still skeptical about the idea of applying the strategy of long-term holding as a method to gain massive returns.
A Bitcoin whale’s stunning 151,989,283% return on investment over nearly 14 years has turned heads and reignited discussions about Bitcoin’s long-term potential. On November 14th, a surprising transfer of at least 2,000 BTC to Coinbase made waves in the crypto community. The holder, who acquired these Bitcoins back in 2010, is now set to sell, potentially reaping massive rewards.
Intrigued? Keep reading for the full story.
From Pennies to Millions
In 2010, Bitcoin was valued at just $0.06. With 2,000 BTC in his wallet, the investor’s initial holdings amounted to just $120. Fast forward to today, and Bitcoin is trading at $91,193.63. This means the same 2,000 BTC is now worth a staggering $182,387,260.
JUST IN: Someone just moved 2,000 #Bitcoin worth $179,000,000. They held from $0.06 to $90,000Legend pic.twitter.com/L2nprLATnh
— The Bitcoin Historian (@pete_rizzo_) November 15, 2024
Bitcoin vs. Gold
The growth of Bitcoin during this period is nothing short of extraordinary. From $0.06 to over $91,000, Bitcoin has experienced a mind-blowing increase of 151,989,283%. For comparison, gold, a traditional store of value, has only seen a 111.61% rise over the same period, climbing from $1,210.90 per ounce to $2,562.50.
Bitcoin Hits Record Prices Amid Election Surge
In the past week alone, Bitcoin has surged by 19.1%. Much of this rally is attributed to the election of pro-Bitcoin candidate Donald Trump to the U.S. presidency, which has sparked optimism across the entire cryptocurrency market. Leading cryptos such as Ethereum (ETH), Solana (SOL), Binance Coin (BNB), XRP, and even meme coins like Dogecoin (DOGE) have all benefitted from this market momentum.
Since November 5th, Bitcoin has risen by 34.53%, moving from $67,782.21 to its current price of $91,193.63. In the past 24 hours, Bitcoin’s value has increased by more than 3.7%.
Despite skepticism from some investors, the cryptocurrency has proven time and time again that its long-term growth potential is unmatched.
