Crypto 350

2024/08/05 05:08

A whale’s Bitcoin wallet has become active again a

A whale’s Bitcoin wallet has become active again after 10 years of dormancy. On May 6, it transferred 687.33 BTC to undisclosed wallet addresses, leading to selloff speculation within the cryptocurrency community.

According to the blockchain tracker and analytics platform Whale Alert, the Bitcoin whale moved $43.893 million worth of BTC to two wallet addresses.
The Bitcoin whale had been inactive for over 10 years after initially receiving the Bitcoin on January 12, 2014, when the cryptocurrency traded at $917 per coin. The value of the whale’s whole reserve at that time was $630,000. At press time, BTC is worth $63.8K, highlighting an incredible profit of 6,875%.


The reactivated Bitcoin wallet can be traced back to the Satoshi era – the early days after the creation of Bitcoin, when its pseudonymous founder, Nakamoto, was active online in forums. Some Satoshi-era wallets are often speculated to be linked to Satoshi himself.

This is not the first time Bitcoin Whales have made large transfers after many years of dormancy.

Satoshi-era Bitcoin whales reportedly transferred $230 million worth of BTC in November 2023 after six years of inactivity. This was after a Bitcoin wallet containing 1,005 BTC mined in 2010 was reactivated in August 2023 and transferred the long-dormant coins to new addresses in a series of transactions. According to the wallet statement, the 1,005 BTC was valued at just $328 when it was received in 2010.

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