Whale Moves $257 Million Worth of Bitcoin

According to data provided by cryptocurrency analytics firm Lookonchain, a whale with 2,700 BTC (more than $250 million in dollar terms) recently transferred all of its holdings out after 11 years of dormancy.

The whale initially received 2,700 BTC in December 2013. Back then, the leading cryptocurrency was trading at just $625.

The massive transfer has attracted significant attention on social media, with various users speculating about its purpose on social media.

“That person probably waited for the divorce to finalize first,” an X user quipped.

Some have also suggested that the whale might have decided to sell their Bitcoin stash too early. “They should hodl to $1 million!” another user commented.

Bitcoin transfers that come from long-dormant wallets are not rare, but this one is particularly notable due to its sheer size. It is very rare for such wallets to contain more than 1,000 BTC.

It is likely that a whale with diamond hands has finally decided to cash out now that Bitcoin is nearing $100,000. The price of the leading cryptocurrency is up 128.11% on a year-to-date basis.

According to BitInfoCharts, there are just 1,978 addresses in existence holding more than 1,000 BTC.

Even nation-states are among the top holders of Bitcoin. Earlier this week, the U.S. government also transferred 19,800 BTC, causing a short-term price dip. It ended up depositing 10,000 BTC to Coinbase Prime.

Last month, as reported by U.Today, a Satoshi-era wallet also transferred 2,000 BTC after as many as 14 years of inactivity.

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