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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 $44,707 in 2013."
đź’¤ A dormant address containing 81 #$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.