Bitcoin Early Adopters See Holdings Soar 480-Fold
Two early Bitcoin investors who bought the cryptocurrency at an average price of $178 about 13 years ago have recently made small test transfers from their wallets. According to Lookonchain, the two investors spent about $240,000 at the time for a total of 1,346 BTC. Their combined holdings are now valued at around $115 million, representing a growth of nearly 480-fold compared to their initial investment. The transactions were worth $43.08 and $42.62, respectively, and were described as test transactions by Lookonchain.
The wallets had been inactive for several years, but the recent transactions suggest that the investors are checking on their holdings. The transaction records show that Bitcoin arrived in the first wallet 12-13 years ago, and the second wallet also shows deposits from 13 years ago, as well as an outgoing transfer of about 1 BTC made eight years ago. The new transactions do not indicate that the entire holding has been moved or sold.