Bitcoin Whale Moves $11 Million in BTC After 12 Years of Inactivity
A bitcoin whale whose wallet remained untouched for 12 years recently moved 400 BTC (equivalent to approximately $11 million) to numerous addresses.
This is yet another long-term HODLer who wakes up after nearly a decade of inactivity. A dormant BTC whale transferred over 2,000 BTC last week for the first time in nine years.
- The Satoshi-era BTC whale sent 360 BTC (worth around $9.8 million) to one address and transferred the remaining 40 BTC ($1.1 million) to various others.
- It is worth noting that the HODLer has not moved the stash since 2011, or two years after Satoshi Nakamoto mined the first block of the primary cryptocurrency, a historical event known as Genesis Day.
- Another BTC wallet that stayed dormant for over nine years recently sent out 2,071.5 BTC (worth more than $60 million at the time) to an address starting with “bc1q.”
- The whale’s entire stash (prior to the transaction) of 6,071.5 BTC was equivalent to around $4 million on December 19, 2013: the day when the entity received the coins.
- A wallet that participated in Ethereum’s initial coin offering (ICO) in 2016 also woke up this week. As CryptoPotato reported, it transferred one ETH to a new address. They received 2,365 ETH seven years ago, valued at a mere $733 at the time. The assets are now worth more than $4.3 million.
- The reasons behind the recent awakenings remain unknown. However, some speculate that crypto investors with substantial holdings have started transferring old funds to new addresses as a protection measure.
- Other Twitter users have joked that those whales may have finally located their private keys, which is why they were able to conduct such transactions.
- Bitcoin’s price has been on a downtrend recently, losing over 8% of its valuation for the past week, and is currently trading at approximately $27,300.
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