U.Today

With the price of Bitcoin (BTC) trading at its historic high, another ancient whale has resurfaced. According to Whale Alert, the address "1B4Rh…qYK4a" initiated two transfers; notably, the first transaction marked the whale's activity after a 10.9-year slumber. The whale transferred a total of 50 Bitcoin in two distinct batches.

Why now?

Whale Alert insights reveal that this wallet address originally received 50 Bitcoin units in 2014. At that time, the total value of the funds was $44,030, equating to a price of $880.60 per BTC. Today, that Bitcoin stash has soared in value to $4,806,870, reflecting a staggering return of 10,817%.

The whale allocated 47 BTC to an unknown address, while 3 BTC were sent to a Coinbase (NASDAQ:COIN) designated wallet.

Bitcoin’s price has experienced a remarkable transformation over the past decade. All old Bitcoin investors are currently in profit, with the price standing at $95,411.97, an increase of 0.78% over the past 24 hours. Given the current outlook and accrued profits, now seems an opportune moment for dormant investors to reactivate.

In recent months, the number of BTC whales awakening from dormancy has significantly increased. While their resurgence introduces selling pressure on Bitcoin, the overall market enthusiasm is supporting consistent growth.

Bitcoin just getting started

Despite Bitcoin trading at historical highs, expert projections indicate the coin could continue its upward trajectory. Analysts like Fundstrat’s Tom Lee remain hopeful that Bitcoin could reach the $250,000 mark by 2025. Favorable conditions, highlighted by the FedWatch Tool’s expectations of an interest rate cut this month, could stimulate further price increases, especially if bolstered by the strong inflow rates into spot Bitcoin ETFs.

This article was originally published on U.Today