HODLing a bitcoin fortune for as long as 8.1 years before touching it could never have paid off better for the HODLer.
As shown in a recent report from the global live cryptocurrency transaction tracker, Whale Alert, an address containing large amounts of bitcoins, has recently “woken up” after more than eight years of temporary inactivity.
Per the report, the address contained a total of 2,207 bitcoins that were worth $294,000 in 2013, about $133.2 per coin then.
According to live data from CryptocurrenciesToWatch.com, bitcoin was trading at $64,784.5 per coin (as of press time), bringing the total current value of the 2,207 bitcoins to approximately $143 million, a massive increase compared to its worth in 2013.
There could no doubt never have been a better time for this HODLer to break their address’s eight years dormancy.
Not the First of its Kind
As thrilling as this might be, this is not the first time something similar to this case is happening.
In June this year, Coinfomania reported a bitcoin HODLer who waited for nine solid years before activating their bitcoin wallet containing 310 bitcoins, which was valued at $1,894 but is now worth $11.5 million (as of June).
HODLing not for Everyone
Unarguably, not everyone can have the sort of patience and self-control that these HODLers had since many people prefer to trade bitcoins daily and flow along with the price changes.
In fact, most times when the Bitcoin market takes a bearish turn, many give in to FUD, irrationally selling off their bitcoins.
For instance, in 2014, a bear who had a good start with bitcoin sold off a massive 30,000 BTC at a dip of a little over $300 for fear he could lose all his investments as the currency failed to perform as expected.
If he had held to date, the then $9 million worth of BTC would sell for almost $2 billion.
