A dormant BTC whale transferred $11 million worth of the primary cryptocurrency 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.