Bitcoin Whale Alert: Dormant Whale Awakens After Decade with 11,507% Gains
In a shocking turn of events, a long-dormant whale has resurfaced, moving a massive stash of BTC that has been untouched for over a decade. According to on-chain data, a dormant address containing 81 BTC worth $5,189,542 was activated after 10.9 years, with the BTC holder seeing gains of 11,507% in their Bitcoin holdings.
In 2013, the 81 BTC were valued at $44,707. Fast forward to 2024, with Bitcoin priced over $63,000, the stash is now worth $5,189,542. The reasons behind the sudden activation of the wallet remain unknown, sparking speculation about the intentions of the early adopter or holder.
This move is part of a trend where dormant Bitcoin wallets have been awakening in recent weeks. Just last Friday, over 250 BTC from the "Satoshi era" were transferred in transactions totaling over $13 million.
Bitcoin is currently facing profit-taking after a major rally, with BTC down 0.99% in the last 24 hours to $63,557. However, BTC whales have been making significant moves in the market. One whale deposited 750 BTC worth $47.9 million to Binance for profit, while another withdrew 1,343 BTC worth $84.8 million from the exchange.
In conclusion, the resurgence of dormant Bitcoin whales and their significant gains highlight the potential for long-term holders to capitalize on the increasing value of Bitcoin. This trend also underscores the importance of monitoring on-chain data and market movements for informed investment decisions in the volatile cryptocurrency space.