There is no easy way to become a whale, if you can plan it out at all. It was not an easy way for an Unidentified Bitcoin Alien either, ‘cause they had to invest a lot of cash into BTC back in 2017. The guy, or a gal, purchased 514 BTC and went dormant for over five years.
Back then, it cost a little under $1k per coin, which means they invested almost half a million bucks and… kind of let it go. No trading, no transactions, no nothing. Just living their life with the fact in mind they got valuable coins somewhere. Crazy, right?
Turns out it was a smart move for them, because 6 years later they found themselves being a freaking whale with even more money than they invested. I wonder what made them remember they had their coins. Did they just wake up one morning and went something like, “Oh yeah, right, I got that BTC somewhere, what’s the password? Must be somewhere written on a piece of paper under my grandpa’s ashes in the living room.” Regardless, after they got to their account, they sold all their tokens at a profit of $10.6M. What a nice way to spend a morning!
This one though was not the first nor the luckiest. Sometime before, another ancient account sold their 412 BTC, which they had purchased in 2012 for slightly over ten bucks per coin. A year before, yet another whale who bought 489 BTC for around $0.20 each sold it all. What a whalefall, you guys!
Some people may wonder what made all those whales to sell their tokens within a relatively brief period of time. However, the possibility is that it is just a coincidence, and not much is to be expected in terms of BTC price fluctuation. First of all, BTC is a token with high demand and low supply, and is a well-recognized cryptocurrency across the globe, which makes it particularly appealing for newbies with cash. Someone is definitely ready to buy it, which means there should be whales ready to sell it. Especially when the transaction comes at an immense profit.
Will this affect BTC price in the future? Probably not. We know that the maximum number of bitcoins is 21 million, and we are not even close to reaching the number, which means the supply will likely be low, and the demand will definitely remain high, keeping the price at which BTC trades high. Even with 1.5k new tokens out there, what is it compared to 21 million? Nothing. Well, at least not enough to create a large enough supply so that the prices drop. Will the trading price go up? Probably it will, but in its natural course.
Overall, more people will be willing to sell their BTC in the future, but it is likely that even more people will want to buy it despite its high price. Besides, it is no wonder that BTC is being sold by dormant accounts; people know about its value and that it keeps growing but know nothing about crypto, so they buy it and keep it until the time has come to make a profit. For those of us sat collectors, not in the whale club, things are, therefore, very unlikely to become uncomfortable.
The HODLers are not going to become sackholders, at least not in the near future, as BTC value is not expected to reduce due to such transactions. In fact, it is even possible that the price will grow, as more people will learn real life stories about whales with dormant accounts becoming filthy rich.
