- A dormant Bitcoin wallet, inactive for nearly 11 years, has suddenly sprung to life and performed a new transaction.
- According to data provided by Lookonchain, the ancient whale moved all 500 BTC in its wallet to another wallet, a transaction worth $30.4 million.
- The whale wallet purchased all the BTC nearly 10.7 years ago for $62,000. At the time of purchase, on January 12, 2014, the BTC price was $124.
A long-dormant Bitcoin wallet has suddenly become active, moving 500 BTC worth $30.4 million. The wallet, which had been inactive for nearly 11 years, had purchased all the BTC for $62,000 nearly 10.7 years ago.
Bitcoin Wallet Springs to Life
A Bitcoin wallet that had been dormant for nearly 11 years has suddenly become active. According to data provided by Lookonchain, the wallet, often referred to as an ‘ancient whale,’ moved all 500 BTC in its possession to another wallet. The transaction is worth an estimated $30.4 million.
Historical Purchase
The whale wallet had purchased all the BTC nearly 10.7 years ago for $62,000. At the time of purchase, on January 12, 2014, the BTC price was $124. As of writing this article, the Bitcoin price is $61,300, meaning the whale has made a 500-fold gain in 11 years.
Speculations Surrounding the Transaction
It is unclear whether the owner of the whale wallet is a patient investor or someone who remembered their wallet key after many years. Additionally, it is unknown whether the BTC was moved for selling purposes or transferred to another cold wallet. The whale might have sold its assets through the OTC method to avoid impacting the market.
Conclusion
This sudden activity from a long-dormant Bitcoin wallet has stirred up the crypto market. The whale’s 500-fold gain over 11 years highlights the potential of long-term Bitcoin investment. However, the purpose behind the recent transaction remains a mystery, leaving room for speculation and intrigue in the crypto community.
