Bitcoin Whale Sells 1,400 BTC After Four-Year Hold

A long-dormant Bitcoin holder has begun cashing out a position accumulated four years ago, selling 1,400 BTC for about $111.61 million and bringing the holder’s total profit to roughly $76.5 million, according to blockchain analytics platform Lookonchain.

The wallet originally acquired 2,200 BTC for $99.05 million, paying an average of $45,024 per coin. The holder maintained the entire position throughout the subsequent bear market, according to Lookonchain.

At one point, the wallet’s unrealized gains climbed to $178 million. The holder kept the Bitcoin at that stage but has recently started reducing the position after years without sales.

The latest disposal represents about 64% of the 2,200 BTC originally received.

Source: Lookonchain