Dormant Bitcoin whale sells after nearly 3 years, realizes $12.5M profit

A Bitcoin whale identified by the address starting with “1CA98y” sold 200 BTC for over $18 million today, according to data tracked by Lookonchain.

Having been dormant for almost three years, the investor on Thursday woke up and moved 400 BTC, with 200 BTC landing on Binance.

Initially, the whale withdrew 400 BTC from OKX on April 1, 2023, when the price of BTC was $28,432. The recent transaction resulted in a profit exceeding $12.5 million.

According to CoinGecko, Bitcoin is trading at around $91,300 at the time of reporting, up over 5% in the past 24 hours. The digital asset recently hit a new all-time high of $126,080.

If the Bitcoin whale had sold everything near $125,000, his profit would have climbed to about $39 million.