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$54,000 turned into $9.6 billion: a mysterious owner sold bitcoins that had been lying around since 2011

Published by Andrii Rusanov

Recently, an unknown owner who bought bitcoins 14 years ago sold them and became a billionaire (if, of course, he wasn’t before). This is the second such transaction in recent times.

The X Kakashi account noticed the movement of funds on this wallet and reported it. The author of the message notes that 80,000 BTC were purchased in 2011 for $54,000 and sold for $9.6 billion. The website Tom’s Hardware calculated that the newly minted owner of billions made a profit of 18 million percent. To be more precise, the investment of this «whale» increased 176,000 times compared to its initial value.

«One thing is for sure: it must have been quite difficult for someone to hold so many BTC for so long, watching their value rise, fall, and reach the stratosphere again. Some will still insist that cryptocurrency investments are entirely speculative, with no tangible asset value to rely on if the worst happens», — Tom’s Hardware notes.

Moreover, in early July took place another huge bitcoin transaction. In this case, another crypto investor with 14 years of experience received $8 billion. According to rumors, it was Roger «Bitcoin Jesus» Ver, one of the early supporters of bitcoin and cryptocurrencies, former CEO of Bitcoin.com, who now promotes Bitcoin Cash.

As a reminder, bitcoin has recently updated its historical record. On July 10 BTC was worth $112,000and already on July 14 reached a value of $123,000. The total capitalization of the cryptocurrency market for the first time crossed the $4 trillion mark.

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