A savvy Bitcoin holder has bagged nearly $30 million of profit after patiently holding their BTC holdings for over a decade, highlighting the long-term investment potential of the digital asset.
The unknown investor sold 300 Bitcoin (BTC) for $29.8 million on Sunday after patiently holding the coins for more than 11 years, according to Whale Alert.
The investor reportedly purchased the coins for about $60,000 in 2013, meaning they made more than $29 million in profit.
Bitcoin’s 10-year performance continues to outpace traditional assets. Over the past decade, BTC has surged more than 40,600%, compared with a 189% rise in gold, a 116% gain in the S&P 500 and a 60% increase in oil prices, according to TradingView data.
Other savvy traders have also generated millions from patiently holding cryptocurrencies, including memecoins.
In December 2024, a savvy investor made a $52 million profit from an initial investment of just $27 after holding the Pepe (PEPE) memecoin for over 600 days, generating an over 1.9 million-fold return on investment.
Related: Bitcoin treasury trend is new altseason for crypto speculators: Adam Back
Bitcoin dips amid Middle East tensions
Bitcoin’s price has been pressured by escalating conflict in the Middle East. The cryptocurrency fell to an over six-week low of $98,240 on Sunday after US air strikes on Iran’s nuclear sites. US President Donald Trump warned of further strikes unless Iran agreed to peace, Reuters reported.
The two countries have been engaging in strategic missile warfare since June 13, when Israel launched multiple strikes on Iran, marking its largest attack on the country since the Iran-Iraq War in the 1980s.
Related: Crypto trader turns $2K PEPE into $43M, sells for $10M profit
Bitcoin’s dip signals that crypto markets remain “tightly intertwined with the broader financial landscape” and Middle East tensions, Nexo dispatch editor Stella Zlatareva told Cointelegraph, adding:
“Volatility is expected to persist as investors watch ETF flows, geopolitical moves, and macro sentiment across commodities and equities.”
While Bitcoin briefly dipped below the psychologically important $100,000 level, it appears to have stabilized for now. Still, further geopolitical shocks could pressure prices again.
US spot Bitcoin exchange-traded funds (ETFs) continued accumulating despite the geopolitical concerns, amassing over $1 billion worth of cumulative net inflows over the past week, Sosovalue data shows.
However, ETF inflows slowed to just $6.4 million on Friday, with BlackRock being the only asset manager to buy $46.9 million worth of BTC.
Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express
Read the full article here
