U.Today – Sleeping whales continue to emerge from their slumber of the past 10-12 years. Today, according to popular blockchain tracker Whale Alert, which monitors immense crypto transactions, another wallet was reactivated after years of being out of the game.
This whale saw a huge augment in the value of his initial Bitcoin investment, made when the shadow of BTC’s mysterious creator, Satoshi Nakamoto, still hung over the cryptocurrency community.
Satoshi-era wallet returns with huge profit
The wallet in question was reactivated after 11.9 years of inactivity and contains 31 BTC. This seemingly modest amount of the original cryptocurrency is now worth $1,813,156 in fiat currencies, whereas in 2012 it was worth just $362. This represents a staggering 500,772% augment in profit.
Over the past month, the aforementioned data source reported that at least a dozen Bitcoin whales have revived their previously dormant BTC wallets, each showing a massive percentage augment in profits.
Bitcoin ETFs Still Losing Bitcoins
Spot Bitcoin ETFs continue to see massive outflows for the sixth trading day in a row, according to analytics account @spotonchain. The only Bitcoin ETF to see a positive net inflow was Bitwise, with a modest inflow of $9.5 million in BTC.
As for the rest of the ETF cohort, Fidelity, Grayscale, and VanEck saw outflows of $7.6 million, $34.2 million, and $4.9 million on September 4.
The remaining Bitcoin ETFs, including BlackRock’s IBIT, the largest BTC spot fund, saw no inflows or outflows. In total, the ETFs lost $37 million in Bitcoin on Wednesday.
These ETFs, which have seen immense Bitcoin outflows for the week, have contributed to the overall bearish market sentiment recently. In addition, yesterday’s 5.37% Bitcoin price crash was also hit by a stunning sell-off in the US stock market, where around $1 trillion worth of shares were sold.
The sell-off targeted AI/data center/computing companies, as well as housing and oil companies, according to financial commentator Jim Cramer. It coincided with the U.S. Department of Justice issuing subpoenas against chip giant Nvidia (NASDAQ:) and several other chipmakers for violating antitrust laws.
