A long-dormant Bitcoin whale recently made a significant move, activating its address after 10 years and conducting a 50 BTC transaction. This whale, which holds 1,701 BTC worth $115.41 million, had been inactive since 2014. The interesting thing about this address is that it is a legacy Bitcoin wallet, identifiable by the ‘1’ at the beginning.
In the past, the whale made a transaction worth $1.60 million with Bitcoin priced at $625. After receiving a total of 4,272.29 BTC over its history, the whale remained idle for a decade. If the whale had held on to these coins, they would be worth nearly $300 million today.
The whale’s activity was identified by Whale Alert, who shared the alert on X (formerly Twitter). Additional data was retrieved from mempool.space and the TradingView index for this report. The activation transaction was added to block height 837,959 by Foundry USA, with only three confirmations at the time of writing. The whale paid a fee of 0.00001374 BTC, equivalent to $0.93.
Interestingly, the whale used a UTXO of 245.99 BTC to conduct the transaction, sending 50 BTC to another legacy address that has just been activated. The remaining 195.98 BTC was received as change in a modern SegWit address, suggesting a wallet update.
For Bitcoin investors, this event serves as a reminder to keep a close eye on such dormant whales. Their actions can have a significant impact on the market, particularly if they decide to sell their coins. While it is unclear whether this activity is simply balance management or something more significant, it may signal the whale’s desire to realize some profits after a decade. This could potentially inspire others to follow suit.
Overall, monitoring the activity of dormant whales can provide valuable insights for investment decisions, as it may indicate a rising bearish sentiment in the market. However, it is important to remember that investing in cryptocurrencies is speculative, and there are risks involved.