A long-term Bitcoin investor, previously inactive for more than a decade, has recently re-emerged to offload a substantial portion of their holdings, securing an impressive 31,250% return on their initial investment. This significant transaction involved the sale of 2,500 Bitcoin, originally acquired in 2012 at a price of just $332 per coin, yielding approximately $265 million. The investor, known as '5K BTC OG,' still holds a considerable amount of Bitcoin, and the methodical nature of their sales suggests a strategic approach to profit-taking.
The wallet, identified as '5K BTC OG,' held a total of 5,000 Bitcoin before commencing these sales. The recent transactions have seen 2,500 BTC sold, generating an estimated $265 million, based on an average selling price of $106,164 per Bitcoin. This translates to an initial investment of roughly $1.66 million transforming into a quarter of a billion dollars in profit, a testament to the power of holding digital assets over the long term.
Further analysis by Lookonchain reveals that an additional 500 BTC, valued at approximately $47.77 million, was transferred to Binance. This follows a pattern of systematic withdrawals from this veteran holder. The investor has been making transactions ranging from 250 to 500 BTC, distributing these outflows across at least ten separate transactions directed to Binance over the past five months, indicating a deliberate and phased approach to divesting their assets.
Despite these substantial sales, the wallet continues to hold 2,500 BTC, currently valued at around $237.5 million. The potential future sale of these remaining coins could introduce a significant supply into the market, especially with Bitcoin's price nearing the $100,000 mark. Such a large-scale divestment from a long-term holder could exert downward pressure on the market, particularly given the existing resistance levels.
The total profits accumulated by this 'OG' investor now exceed $500 million, marking one of the most remarkable 'HODL-to-exit' narratives in the history of Bitcoin. While loyal long-term investors celebrate this display of patience and foresight, many traders are keeping a close watch. The re-activation and subsequent liquidation of these coins, which have remained dormant since Bitcoin's early post-Satoshi era, signal a potential shift in market dynamics as substantial legacy holdings become active and liquid.