HODL Hard! Bitcoin Address Records $96M Profit After Nine Years

An old Bitcoin wallet address that has held 5000 BTC for about nine years recently transferred its entire balance to another address, seeing $96 million in profit, despite the broader market decline.

HODLing Paid Off Big

According to blockchain explorer BitInfoCharts, the wallet address purchased 5000 BTC in December 2013, four years after the launch of the cryptocurrency. The total BTC purchase was worth over $3.3 million at the time, as bitcoin traded at $663. 

After the purchase, the BTC holdings sat in losses for the next three years, as bitcoin struggled from around $350 to $500. In 2017, however, the wallet recorded gains as the price of bitcoin reached an all-time high above $19,000 in December. 

In September 2021, the wallet owner added 1.51 BTC worth around $63,800 at the time. This brought its total bitcoin holdings to 5001.51 BTC. Interestingly, the value of the bitcoin holdings at the time of the coin’s all-time high in November 2021 was over $340.1 million. 

Who Owns the Wallet?

Note, though, that the wallet holder has only transferred the bitcoin holdings to an empty wallet while sitting at the position of the 299th largest Bitcoin holder, as revealed on the blockchain explorer.

Some users reacted to the recent transaction, with some suggesting that it was the Bitcoin creator, Satoshi Nakamoto. Another user suggested that the aforementioned bitcoin holdings could be linked to the recently rumored release of 137,000 BTC by Mt. Gox.

Old Bitcoin Users Continue to HODL

Several Satoshi-era wallets have still not transferred or withdrawn their bitcoin holdings. One of them holds 6071.5 BTC (worth $120.2 million) which was purchased on the same day as the 5001.51 BTC holder.

In May 2022, a dormant wallet address was reactivated since its Bitcoin purchase in 2013. The wallet holder purchased 1000 BTC worth nearly $30.4 million at the time. Crypto users reacted to the news, with some saying the fund could be tied to the Bitfinex hack of 2016.

Your crypto deserves the best security. Get a Ledger hardware wallet for just $79!

  • bitcoinBitcoin (BTC) $ 16,921.86 0.83%
  • ethereumEthereum (ETH) $ 1,278.64 0.11%
  • bnbBNB (BNB) $ 289.52 1.34%
  • xrpXRP (XRP) $ 0.389130 2.77%
  • solanaSolana (SOL) $ 13.52 1.36%
  • terra-luna-2Terra (LUNA) $ 1.65 3.22%