Bitcoin Whale Moves $11 Million In Bitcoin Following 12 Years Of Inactivity – NewsTo
Bitcoin Whale Moves $11 Million In Bitcoin Following 12 Years Of Inactivity

Bitcoin Whale Moves $11 Million In Bitcoin Following 12 Years Of Inactivity

After 12 years of inactivity, a dormant BTC whale transferred $11 million worth of the major cryptocurrency.

A bitcoin whale who had no activity in his wallet for 12 years recently transferred 400 BTC, or over $11 million, to a number of addresses. 

This is yet another long-term HODLer who awakens after over a decade of inactivity. For the first time in nine years, a dormant Bitcoin whale moved over 2,000 BTC last week.

The Satoshi-era Bitcoin whale sent 40 BTC ($1.1 million) to several addresses while transferring 360 BTC (about $9.8 million) to one address.

Bitcoin Whale Moves $11 Million in Bitcoin Following 12 Years of Inactivity

It’s important to note that the HODLer hasn’t sold any of the stock since 2011, which is two years after Satoshi Nakamoto mined the first block of the primary cryptocurrency, an occasion known as Genesis Day.

A second Bitcoin wallet that was inactive for more than nine years suddenly transmitted 2,071.5 BTC, or more than $60 million, to an address that begins with “bc1q.”

On December 19, 2013, the day the corporation got the coins, the whale’s total holdings—6,071.5 BTC—were worth almost $4 million.

This week, an Ethereum wallet that took part in the initial coin offering (ICO) in 2016 also came to life. It transferred one ETH to a new address. Seven years ago, they were given 2,365 ETH, which at the time was only worth $733. The assets now have a value of over $4.3 million.

The causes of the most recent awakenings are still unknown. However, some speculate that large crypto holders have started moving their old funds to new addresses as a safety precaution. 

Other Twitter users have humorously suggested that the reason those whales were able to do such transactions was because they had finally found their private keys.

The price of bitcoin has recently been tumbling, lowering more than 8% of its value over the last week, and is currently trading at around $27,300.

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