Bitcoin Whale Awakens After 11.4 Years, Holds 489 BTC

A Bitcoin whale awakens after 11.4 years.
The price of Bitcoin falls below $40,000.
The Bitcoin Fear & Greed Index points to fear.

Bitcoin and crypto investor Lark Davis is a long-time crypto enthusiast. Currently, he holds over 900,000 followers on Twitter. Today he caused a bit of a buzz after retweeting a post about a Bitcoin whale coming back to life.

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Specifically, he retweeted Whale Alert’s tweet about a dormant Bitcoin wallet coming back to life. To highlight, the wallet address holds 489 BTC which amounts to over $20,000,000 in value. What’s more, the wallet was inactive for 11.4 years. This means that the 489 BTC went from $50 in 2010 to $20,242,263 in value.

As we can see from the tweet, Lark Davis is astounded by this. “Imagine sitting on 489 Bitcoin for 11 years”, he tweets. We can also see that the tweet got quite some engagement as many are wondering if this is why the price of Bitcoin dipped below $40,000 again. Others also chimed in with similar stories about dormant wallets.

Meanwhile, some say that it would make sense if the newly awakened wallet sold the BTC to make a profit. In contrast, others say it is always best to HODL. Although considering the current FUD in the market, it is likely that many investors are choosing to take the easy way out. Still, many crypto believers continue to hold onto their crypto assets.

According to the Bitcoin Fear & Greed Index, we are bouncing back and forth from extreme fear to fear to neutral. Presently, the index is pointing at fear. This is understandable as times are harsh, what with the Russia-Ukraine war. Also, the fall of the Ruble and the rise in oil prices have many reconsidering where to put their assets.

While some are embracing crypto, others as dropping out and choosing traditional options. In fact, the constant rise and fall of crypto prices are proof of this. Soon we may see a breakthrough. Perhaps the crypto option will come out on top.

As the price of Bitcoin (BTC) and all other cryptos continue to rise and dip over and over again, the crypto community is holding its breath in anticipation. In detail, many Bitcoin holders and crypto enthusiasts are hoping for the price of Bitcoin to stay above $40,000. At the time of writing, the price of Bitcoin (BTC) is $39,286.86.