A dormant whale resurfaced after 11 years on Tuesday, moving over $250 million worth of Bitcoin.
According to the on-chain tracking platform Lookonchain, the investor suddenly became active, moving 2,700 BTCs to a new address. The total value of the transferred Bitcoin was estimated to be $257.45 million.
The whale received the stash on Dec. 21, 2013, when Bitcoin was priced at $625.84 per unit. If the transferred amount was intended to be sold, the whale would make a profit of around $255.786 million, representing a staggering 15135.8% return.
Popular cryptocurrency market observer JA Maartunn also weighed in on the fascinating development, stating that such an event only happened once before.