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A long-dormant Bitcoin whale has re-emerged after 5.5 years, transferring a staggering 8,000 BTC to a Binance wallet on June 11. Acquired for $3,810 per coin back on December 6, 2018, this colossal sum, originally valued at $30 million, could now fetch over $500 million if sold at current market prices.
The awakening of this Bitcoin investor comes at a time when the cryptocurrency market shows signs of renewed vigor. The movement of such a significant amount to Binance suggests potential profit-taking from the substantial appreciation in Bitcoin’s value over half a decade.
Market watchers speculate this could signal a healthy liquidity event, indirectly highlighting the enduring value and investment appeal of Bitcoin, even after years of market fluctuations.
