"Wait since 2018, won't you get the result, but does this whale want to cash out or hold on to BTC?"
After five years of silence, the cryptocurrency (BTC) whale suddenly moved 8,000 BTC to a Binance address making his $30 million investment a staggering $535 million.
Through observation, the BTC address has acquired a large amount of the digital asset on December 6, 2018 when the price was at $3,810 and it should be noted that many investors have seen large gains on their reserves since the spot BTC ETF was approved.
Please note that sending a digital asset to a crypto exchange usually indicates an intention to sell or realize a profit that has been held for years.
There's no denying that BTC, which is currently trading above $67,000, has taken a bit of a tumble, but the whale's overall gains have certainly outweighed the current drop as it bought while the price was still below $5,000.
Even so, many more investors can follow in the footsteps of those whales following the first BTC hard fork that just happened three months ago plus the spot BTC ETF approved in January 2024 could push the price even higher.
As of this writing, BTC price has plunged by 0.18% to $67,439 in the last 24 hours with a market cap of $1.3 trillion then recorded a 5.18% decline over the last week.