Dormant Bitcoin Whale Awakens After Decade With 11,507% Gains
According to on-chain data, a long-dormant Bitcoin whale has come back to life, moving a massive stash of BTC that has remained untouched for over a decade.
Whale Alert states, “A dormant address containing 81 BTC worth $5,189,542 was activated after 10.9 years worth $44,707 in 2013.”
💤 A dormant address containing 81 #BTC (5,189,542 USD) has just been activated after 10.9 years (worth 44,707 USD in 2013)!https://t.co/0QTLIfzk6K
— Whale Alert (@whale_alert) September 23, 2024
The BTC holder who has held onto their Bitcoin stash since 2013 has reportedly seen gains of 11,507% in their Bitcoin holdings.
Back in 2013, the 81 BTC were valued at $44,707. Fast forward to 2024, and with Bitcoin currently priced at over $63,000, it is now worth $5,189,542, marking an 11,507% increase on the BTC stash.
The reasons for the sudden activation of the wallet after such a long period remain unknown. It may be an early adopter planning to sell, a long-forgotten address with newly discovered keys or the holder transferring the BTC stash to a more secure wallet.
This move adds to previous instances in which dormant Bitcoin wallets have awakened in recent weeks.
Last Friday, over 250 BTC from the early days of Bitcoin, known as the “Satoshi era,” were transferred in five distinct transactions, each moving 50 BTC to other wallets, for over $13 million.
Bitcoin whales making move
Bitcoin is facing slight profit-taking after a major rally that saw it rise for six days in a row amid the Fed’s jumbo rate cut in the past week. At the time of writing, BTC was down 0.99% in the last 24 hours to $63,557 and up 7.87% in the past week.
As Bitcoin awaits its next major move, BTC whales have been making moves in the last 24 hours.
According to Spot On Chain, a Bitcoin whale deposited 750 BTC worth $47.9 million to Binance for profit. In another transaction reported by lookonchain, a whale withdrew 1,343 BTC worth $84.8 million from Binance hours ago.
