Bitcoin Whale Transfers BTC Worth $68 Million After 12 Years of Inactivity

Bitcoin Whale Transfers BTC Worth $68 Million After 12 Years of Inactivity

A Bitcoin wallet that had been inactive for the past decade recently transferred Bitcoin worth $68 million (approximately Rp1 trillion to an unknown new address. This activity was reported by Whale Alert on July 14, 2024.


Data from Blockchain.com shows that the wallet was created on September 26, 2012, when the average price of Bitcoin was only about $12.06 (approximately Rp195,000). Compared to today's prices, the value of Bitcoin in this wallet has increased by nearly 500,000 percent. The motive behind this transfer remains unclear, and the identity of the Bitcoin owner is still unknown. However, it is noted that this wallet received Bitcoin during the early mining days, indicating that the owner is likely an early miner or investor in Bitcoin.

Increased Activity Among Bitcoin Whales

This wallet's movement is not the only significant activity among Bitcoin whales recently. On-chain data for July shows at least two early Bitcoin whales have reactivated. On July 9, 2024, Whale Alert reported that an address inactive for about a decade began moving 149 BTC worth $8.9 million at the time. When the address was created in 2013, its total holdings were worth only $81,667.

This follows another recent movement on July 4, 2024, when an address associated with another Bitcoin whale transferred 119 BTC worth $6.8 million. This address had been inactive since 2012. Additionally, a major investor known as a mega whale moved a substantial portion of their assets, totaling 3,000 BTC, in early March 2024. This whale had held Bitcoin since August, September, October, and November 2010, when the price of Bitcoin was below or equal to $0.39. The Bitcoins held by this whale originated from block rewards mined in Bitcoin's early history.

conclusion

The recent activity of previously dormant Bitcoin wallets, including a significant transfer of BTC worth $68 million after 12 years of inactivity, highlights the dynamic and unpredictable nature of the cryptocurrency market. The substantial increase in the value of these early-held Bitcoins underscores the potential long-term gains of early adopters and miners, who now possess assets worth exponentially more than their initial value. The anonymity surrounding these transactions adds to the intrigue and speculation within the crypto community.

Moreover, the resurgence of activity among Bitcoin whales suggests a renewed interest or strategic financial movements within the market. The fact that several large holders, who had been inactive for nearly a decade, are now moving their assets could indicate a response to current market conditions, potential profit-taking, or other underlying factors. These movements have significant implications for market liquidity and investor sentiment, as the actions of whales often influence broader market trends and perceptions.

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