Dormant Bitcoin Whale Transfers $137 Million in BTC After 4 Years

Dormant Bitcoin Whale Transfers $137 Million in BTC After 4 Years

A Bitcoin wallet address has sprung back to life after approximately four years of inactivity.

The dormant whale transferred its entire stash of 3,623 BTC – worth around $136.94 million – to two new wallets. On-chain data suggest that the whale amassed 3,623 BTC worth almost $25 million between October 25, 2018, and December 31, 2019. During this timeframe, Bitcoin was trading on average at $6,889.

  • As reported by Lookonchain, the investment has skyrocketed to a staggering $136.94 million, considering the current market price, marking a profit of around $112 million.
  • According to data compiled by BitInfoCharts, the whale was sitting on a profit of $244 million in BTC during the bull run in November 2021 when Bitcoin exchanged hands at $67.5k.
  • The substantial movement of funds introduces an interesting aspect to the market. Deciding to use or move dormant coins is often complex and depends on individual circumstances and various factors.
  • For instance, a significant increase in Bitcoin’s value might lead owners to sell or trade their inactive assets to capitalize on profit opportunities.
  • Amidst market recovery, 2023 witnessed a flurry of mysterious wallet movements from previously dormant whales.
  • Earlier this month, three Bitcoin whale addresses recently moved a total of 6,500 Bitcoins to new wallets, with a combined value of around $230 million.
  • On September 19th, a dormant Bitcoin address transferred over $46 million worth of crypto after six years, sparking concerns of intense sell pressure in the market.
  • Another whale inactive for more than a decade woke up from its slumber in July to transfer $31 million in BTC.

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