Another Bitcoin Whale Awakens After 10 Years of Dormancy
A wallet holding over 1,400 Bitcoin has been reactivated after more than a decade of inactivity. This stash is currently valued at nearly $40 million based on today's exchange rates.
Another Bitcoin Whale Awakens After Over 10 Years of Dormancy
According to data from crypto transaction tracking platform Lookonchain, an anonymous wallet recently transferred 1,432.93 Bitcoin—approximately $40 million—to a new address on June 8 (Vietnam time). Notably, this whale account had been dormant for over 10 years.
A BTC whale that has been dormant for 10.2 years transferred all 1,432.93 $BTC($37.8M) to a new address"bc1psv" 5 mins ago.
— Lookonchain (@lookonchain) June 8, 2023
The whale received 1,432.92 $BTC on Apr 9, 2013, when the price was $195.4.https://t.co/17R0UqEBKC pic.twitter.com/e0LkSfn5t3
The wallet first received these Bitcoins on April 9, 2013, when the price of a single Bitcoin was around $195.40. Compared to the current price, the whale's assets have appreciated over 13,400 times. (What is Bitcoin?)
The current balance in the whale’s wallet is 0 BTC. Source: BitInfoCharts
In the comments section, many speculate that this move could signal a forthcoming large sell-off. Others jokingly suggest that the owner might be preparing to capitalize on the BRC-20 trend.
A BTC whale that has been dormant for 10.2 years transferred all 1,432.93 $BTC($37.8M) to a new address"bc1psv" 5 mins ago.
— Lookonchain (@lookonchain) June 8, 2023
The whale received 1,432.92 $BTC on Apr 9, 2013, when the price was $195.4.https://t.co/17R0UqEBKC pic.twitter.com/e0LkSfn5t3
Bitcoin whales refer to investors holding substantial amounts of BTC in the market. They wield significant influence over the cryptocurrency and have the power to impact or even crash the market.
This isn’t the first time an old wallet has resurfaced after a long period of silence. According to Lookonchain, another whale recently moved all their investment from Ethereum's ICO into a single wallet.
