Bitcoin Whale Bags $85.7M Profit After Dormancy
A Bitcoin whale reemerges after 1.5 years, moving $25.1M BTC to FalconX, securing $85.7M profit.
- Whale moved 300 BTC to FalconX after long dormancy
- Accumulated 1,500 BTC at $26,353 from Cumberland in 2023
- Estimated total profit stands at $85.7M (+219%)
A major Bitcoin whale has re-entered the spotlight by depositing 300 BTC worth $25.1 million to FalconX, a crypto trading platform, after staying inactive for nearly 1.5 years. This unexpected move occurred approximately 3 hours ago, signaling potential Market activity ahead.
Strategic Accumulation and Impressive Gains
On August 18, 2023, this whale had acquired 1,500 BTC from Cumberland at an average price of $26,353 per BTC, totaling approximately $39.5 million. Fast forward to now, with Bitcoin trading at around $83,707, the whale’s strategic accumulation has paid off handsomely.
Here’s the breakdown of the whale’s recent activity:
- 300 BTC ($25.1M) moved to FalconX
- 1,050 BTC ($87.2M) shifted to two new wallets
- 150 BTC ($12.5M) remains in the original wallet
With these moves, the whale’s estimated profit stands at $85.7 million, reflecting a 219% increase from the original investment. These large transfers often attract attention from traders and analysts, sparking speculation about future market movements.
What This Could Mean for Bitcoin
Whale activity, especially from dormant accounts, can signal shifts in sentiment or upcoming volatility in the Bitcoin market. The deposit to FalconX suggests possible liquidation or a strategic positioning for future trades. While the impact remains to be seen, this whale’s $85.7 million gain underscores the power of patience and timing in crypto investing.
