When people talk of Bitcoin being a store of value asset, they’re talking about examples like this one: A whale on Thursday moved 2,000 Bitcoin—worth $179 million—after not touching the stash for 14 years. 

Blockchain data shows that the whale—a crypto investor with huge holdings—received the coins in 2010 when they were worth $0.06 a piece. In total, they held $120 worth of orange coins back then. 

The whale moved the “digital gold” to American crypto exchange Coinbase late Thursday after watching their holdings appreciate by nearly 150,000,000%—presumably to sell. Journalist Pete Rizzo first flagged the movements on Twitter (aka X).

Bitcoin is now priced at $89,538, according to data from CoinGecko. It touched an all-time high of over $93,000 on Wednesday after surging by about $20,000 since Election Day.

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In the crypto world, whales are investors who hoard large amounts of digital coins and sit on them for years, watching their value skyrocket. A lot of Bitcoin whales are likely groups of people or companies who were involved in mining the asset during its early days.

Although the oldest and biggest cryptocurrency sees short-term volatility, over the long-term, it typically appreciates more than most other assets—bringing “HODLers” huge returns.

Source: Shutterstock

Bitcoin Just Hit $93,000—Here's Why Bitwise Thinks It's Going to $500K

Think you’re too late to Bitcoin? You’ve still got time, according to ETF manager Bitwise’s chief investment officer, who predicts sizable gains still to come. Of course, he would say that. But crypto asset manager boss Matt Hougan has laid out some interesting reasons why he thinks the average investor can still snap up “digital gold”—and that being late to Bitcoin would be when or if it hits the $500,000 mark.  Bitcoin’s price soared amid Donald Trump’s Presidential election victory last week...

NewsCoins
2 min read
Mat Di Salvo

Bitcoin has risen quickly following the election of Donald Trump earlier this month. The Republican president-elect has said he will be light on regulation—especially with the crypto sphere. 

Edited by Andrew Hayward

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