Dormant Bitcoin Whale Transfers $137 Million in BTC After 4 Years
Another Bitcoin whale has awoken from four years of slumber, transferring out its holdings as the crypto hovers a little below $38k.
A Bitcoin wallet address has sprung back to life after approximately four years of inactivity.
The dormant whale transferred its entire stash of 3,623 BTC – worth around $136.94 million – to two new wallets. On-chain data suggest that the whale amassed 3,623 BTC worth almost $25 million between October 25, 2018, and December 31, 2019. During this timeframe, Bitcoin was trading on average at $6,889.
- As reported by Lookonchain, the investment has skyrocketed to a staggering $136.94 million, considering the current market price, marking a profit of around $112 million.
A whale that had been dormant for ~4 years transferred all 3,623 $BTC($136.94M) to 2 new wallets 1 hour ago.
This whale accumulated 3,623 $BTC($24.96M) at ~$6,889 from Oct 25, 2018 to Dec 31, 2019.
At current prices, the profit is ~$112M.https://t.co/QL3fPiV900 pic.twitter.com/wrMe4loIwm
— Lookonchain (@lookonchain) November 30, 2023
- According to data compiled by BitInfoCharts, the whale was sitting on a profit of $244 million in BTC during the bull run in November 2021 when Bitcoin exchanged hands at $67.5k.
- The substantial movement of funds introduces an interesting aspect to the market. Deciding to use or move dormant coins is often complex and depends on individual circumstances and various factors.
- For instance, a significant increase in Bitcoin’s value might lead owners to sell or trade their inactive assets to capitalize on profit opportunities.
- Amidst market recovery, 2023 witnessed a flurry of mysterious wallet movements from previously dormant whales.
- Earlier this month, three Bitcoin whale addresses recently moved a total of 6,500 Bitcoins to new wallets, with a combined value of around $230 million.
- On September 19th, a dormant Bitcoin address transferred over $46 million worth of crypto after six years, sparking concerns of intense sell pressure in the market.
- Another whale inactive for more than a decade woke up from its slumber in July to transfer $31 million in BTC.
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
