Bitcoin Whale Inactive Since November 2013 Transfers 500 BTC to a New Wallet! Here Are the Details

According to blockchain analytics platform Arkham Intelligence, a Bitcoin whale wallet that had been inactive for approximately 12 years has become active again. The address reportedly transferred 500 BTC, worth approximately $40.6 million, to a new wallet.

According to the data, the transfer was made from the address “1KAA8…d882j” to the address “bc1qm…hjrxy”. It was stated that the Bitcoins in the wallet had not been moved since November 27, 2013.

When the whale investor first acquired the 500 Bitcoins, their total value was estimated to be only about $457,000. With current prices, the value of the assets has increased approximately 89 times, exceeding $40 million. Experts note that such prolonged periods of inactivity in wallets are often associated with preparations for sale or new wallet transfers for security purposes.

Recently, similar “awakened whale” movements have been attracting attention in the cryptocurrency market. Last month, an investor who participated in Ethereum’s initial coin offering (ICO) moved approximately $23 million worth of ETH, which he had kept inactive since 2015, to another wallet.

Bitcoin’s price has shown strong growth in recent weeks, rising from around $66,000 last month to the $81-82,000 range. Gaining 1.21% in the last 24 hours, Bitcoin’s price traded at approximately $81,721.

Analysts emphasize that large transfers from old wallets can create concerns about short-term selling pressure in the market, but not every transfer directly means selling. They point out that long-term investors, in particular, may move their assets to different addresses for reasons of security, custody, or institutional transfer.

*This is not investment advice.