Early Bitcoin Whale Returns 1,491,666,566% Gains: Details

U.Today - A Bitcoin investor from BTC's early days has resurfaced, achieving an astronomical 1,491,666,566% gain on their holdings. This incredible return stems from a hoard of 2,000 BTC, originally purchased at a low price of $0.06 per Bitcoin.

According to Bitcoin historian Pete Rizzo, an anonymous Bitcoin investor moved 2,000 BTC, now worth $179 million. "Someone just sent 2,000 Bitcoin worth $179,000,000. They held between $0.06 and $90,000," Rizzo noted in a tweet.

This whale's Bitcoin journey began when the price was just $0.06 per coin. At the time, the 2,000 BTC stockpile was worth just $12. Fast forward to today, with the Bitcoin price surging to $90,000, and the same stash has skyrocketed to $179 million, marking a staggering 1,491,666,566% return on the holdings.

The recent move has raised speculation about the wallet owner’s identity and intentions, both of which remain unknown.

Bitcoin price actionBitcoin's price has dropped by 1.43% in the past 24 hours, possibly due to profit-taking after reaching an all-time high of $93,495 earlier this week.

The largest digital asset fell as low as $87,100 in Friday's trading session after Federal Reserve Chair Jerome Powell stated that there was no need to rush interest rate decreases. Bitcoin later recovered some of its trading losses, returning to more than $88,000.

Bitcoin was trading at $87,740 as of press time. Following Powell's comments, traders reduced bets on Fed rate cuts, indicating an easing of risk appetite. Dogecoin fell 11.33% in the last 24 hours, whereas XRP rose 24%.

On the positive side, investors pumped a net $4.3 billion into U.S. spot Bitcoin exchange-traded funds. According to recent data, the 12 BTC ETFs, from issuers such as BlackRock Inc (NYSE:BLK ). and Fidelity Investments, have a total asset value of approximately $93 billion.

According to Bloomberg, the bullish market conditions have also contributed to overall net inflows into U.S. ETFs exceeding $913 billion. That surpasses 2021's record haul with one month remaining.

Source: Investing.com