Bitcoin OG From 2011 Wakes Up, Cashes In On A 322,000x Gain

Bitcoin whale from 2011 has suddenly alive, with 3962 BTC. Here is the amount of profit that Og made on their old pile.

Bitcoin whale showed a movement after 14.5 years of silence

in mail In X, Sleute referred to the series how the Bitcoin whale wallet was silent 14.5 years ago that finally accepted its stillness today. The concerned wallet received 3962 BTC in January 2011.

At that time, the cryptocurrency was about $ 0.37, so this amount was only worth about $ 1,460. After collecting this amount, the investor address became completely cold.

The wallet is likely to be lost, either by forgetting its existence or switches in its place. This is the potential reason behind long -sleeping wallets. The least likely explanation can be that silence corresponds to the deliberate hunting by the investor.

Whatever the case, the wallet recently showed an activity earlier today and treated a test of 0.0018 BTC.

The transfer history of the whale | Source: @lookonchain on X

Now, it completely emptied itself, and the coins turned into a new wallet.

The latest transaction made by the ancient investor | Source: @lookonchain on X

At the time of this new deal, the 3,962 BTC wallet was worth $ 469 million. Given that the initial investment was about $ 1,460, this huge amount is all profit in practice.

In general, when the sleeping wallets move the coins, this is a sign that they are planning for sale. If this is the case for the current title, the question may be: Why now at all times, after 14.5 years? Assuming that the wallet has already been lost, it is likely to be discovered now. Thus, it may be impossible to simply change these coins so far.

But in the scenario that the Bitcoin wallet was discovered earlier or has never lost the investor already access, then it may be the reason that its highest levels of running seem to be a comfortable window for drainage at the end.

In another x mailLokonchain shared the latest flow/external flow data for Bitcoin and ETHEREUM (ETFS).

Looks like the number one cryptocurrency observed ETF net outflows on July 24th | Source: @lookonchain on X

As visible above, ETF Netflow for a period of 7 days currently stands in positive for Bitcoin and Ethereum, but the daily Netflow printed a negative value for the first. In total, 751 BTC ($ 89 million) left the investment funds circulating over the past day. FBTC’s FBTC led external flows, with 1919 BTC ($ 227 million) of the fund.

In contrast, ETH ETFS has seen a large flow of 110,868 ($ 404 million) in the same window.

BTC price

At the time of writing this report, Bitcoin floats around $ 118,900, unchanged for one week.

The trend in the BTC price over the last five days | Source: BTCUSDT on TradingView

Distinctive image from Dall-E, Chart from TradingView.com

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