A Bitcoin (CRYPTO: BTC) investor has demonstrated the potential of long-term investment in digital assets by turning a mere $120 into a staggering $179 million over a 14-year period.
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What Happened: A Bitcoin whale moved 2,000 Bitcoin, now worth $179 million, which had been untouched for 14 years.
Blockchain data indicates that the whale received the coins in 2010 when they were valued at just $0.06 each, making the total value of the coins at that time $120.
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The investor transferred the Bitcoin to the American crypto exchange, Coinbase, last week, after seeing their holdings appreciate by nearly 150,000,000%. This move is presumed to be a step towards selling the digital asset.
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Currently, Bitcoin is valued at $90,476, according to Benzinga data. It reached an all-time high of over $93,000 last week, marking an increase of about $20,000 since Election Day.
Why It Matters: Bitcoin whales, as they are known in the crypto world, are investors who accumulate large amounts of digital coins and hold onto them for years, watching their value increase exponentially.
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Despite short-term volatility, Bitcoin typically appreciates more than most other assets in the long run, yielding substantial returns for those who hold onto it, known as “HODLers.”
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