Decade-Old Bitcoin Stash Grows into $100 Million Fortune Amid Price Volatility
A decade-old Bitcoin stash has grown into a $100 million fortune after its owner transferred 1,260.77 BTC to an unknown address.
The wallet was created on July 9, 2016, when Bitcoin's price closed at $650, and the stash was worth only $819,500.50 at the time. Today, with Bitcoin trading between $76,000 to $82,000, that same amount is now over $100 million, a gain of 11,366.15%.
Casascius physical bitcoin holders have also been redeeming their coins. A total of nearly 75 redemptions of 1 BTC Casascius bitcoins were recorded during the first six days of September. On Sept. 3, 14 redemptions occurred, followed by 15 on Sept. 4 and 40 on Sept. 5.
This recent activity suggests that some Bitcoin holders are taking profits amid the current price fluctuations.