Bitcoin Miner Era Satoshi Untung Up To IDR 8.9 Trillion In BTC Annual Surge

Bitcoin miners from Satoshi era made a profit of up to IDR 8.9 trillion (Photo; Doc. Acicampinas)

JAKARTA - Bitcoin miners from Satoshi's era have recorded a tremendous profit of 550 million US Dollars (approximately IDR 8.9 trillion) during this year's Bitcoin price spike. This huge gain occurred in the price range of 62,000 US Dollars (approximately IDR 1 billion) to 70,000 US Dollars (approximately IDR 1.1 billion), confirming how important the right timing is in the crypto market.

Quoted from U.Today, according to CryptoQuant CEO Ki Young Ju, the early Bitcoin miners who became pioneers in adopting and validating transactions on the Bitcoin network have seen significant investment returns by 2024. The data shows that these miners managed to take advantage of this year's Bitcoin price hikes and secure huge profits.

Several Bitcoin wallets from Satoshi's era, namely the period when the founder of the Bitcoin pseudonym, Satoshi Nakamoto, was active in a public forum between the end of 2009 and 2011, suddenly reactivated since early 2024. In May, an early Bitcoin mining wallet that had been inactive for 14 years transferred 2,000 BTC. These coins were most likely sent to OTC tables or custodies, as the coins were immediately shipped to several new addresses.

The price range of 62,000 US Dollars to 70,000 US Dollars has proven to be very profitable for Bitcoin miners from this early era. This range covers the period when Bitcoin almost hit an all-time high, providing an ideal opportunity for miners to sell their Bitcoins at premium prices.

Bitcoin has doubled its price since early 2023, hitting an all-time high of 73,798 US Dollars (approximately Rp1.2 billion) in March, driven by demand for the ETF on the US special exchange. Although the recent spike eased, the ETF's inflow continued.

On Tuesday, Bitcoin experienced a decline along with other crypto asset markets, hitting a low price of 64,010 US Dollars (approximately IDR 1 billion), amid concerns about the global economy and lower liquidity over the summer.