Dormant Bitcoin Whale Awakens After Decade With 11,507% Gains

According to on-chain data, a long-dormant Bitcoin whale has emerged after moving a significant amount of BTC that had remained untouched for over a decade.

Reports indicate that a dormant address has been activated, containing 81 BTC currently worth approximately $5,189,542. This stash had been valued at $44,707 back in 2013, representing an astounding 11,507% gain over the years.

When the 81 BTC were acquired in 2013, they were priced at just $44,707. Fast forward to 2024, Bitcoin has surged past $63,000, resulting in a current valuation of $5,189,542 for the dormant stash.

The reasons behind the reactivation of this wallet after such a lengthy period remain unclear. It could be an early adopter considering a sale, someone rediscovering an old address, or perhaps the holder is moving their assets to a more secure wallet.

This incident is part of a larger trend, as other dormant Bitcoin wallets have also shown signs of activity recently. Just last Friday, over 250 BTC from the early days of Bitcoin, often referred to as the “Satoshi era,” were transferred in five separate transactions, with each moving 50 BTC to different wallets, totaling over $13 million.

In the current market, Bitcoin is experiencing some profit-taking after a significant rally, in the wake of a recent Federal Reserve rate cut. At the time of writing, BTC was down 0.99% in the last 24 hours, trading at $63,557, while still showing a 7.87% increase over the past week.

As Bitcoin prepares for its next major price movement, several whales have been active. Notably, a whale deposited 750 BTC worth around $47.9 million to a cryptocurrency exchange for profit. In another significant transaction, a different whale withdrew 1,343 BTC valued at approximately $84.8 million shortly thereafter.