A Bitcoin (CRYPTO:BTC) investor has demonstrated the potential of long-term investments in digital assets by turning just $120 into a whopping $179 million over 14 years.
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What happened: A Bitcoin whale moved 2,000 Bitcoin, now worth $179 million, that had been untouched for 14 years.
Blockchain records indicate that the whale received the coins in 2010 when they were worth just $0.06 each, bringing the total value of the coins to $120 at the time.
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The investor transferred the Bitcoin to the American crypto exchange, Coin baselast week, after seeing their holdings increase by almost 150,000,000%. This move is believed to be a step towards selling the digital asset.
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According to data from Benzinga, Bitcoin is currently valued at $90,476. Last week it hit an all-time high of over $93,000, up about $20,000 since Election Day.
Why it matters: Bitcoin whales, as they are known in the crypto world, are investors who accumulate large amounts of digital coins and hold them for years, watching their value increase exponentially.
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Despite its short-term volatility, Bitcoin typically appreciates more than most other assets over the long term, delivering significant returns for those who hold on to it, known as “HODLers.”
