Dormant Bitcoin Whale Awakens After 6-Year Hiatus

After lying dormant for six years, a Bitcoin whale has suddenly reemerged, transferring its entire stash of 2,995 BTC, approximately valued at $82.3 million, to two new addresses.

The whale originally acquired these coins back on May 7, 2016, when Bitcoin was trading at a mere $459 per coin.

Other recent transfers

This is not the first occurrence of dormant Bitcoin addresses waking from their slumber. Another Bitcoin address, inactive for three years, recently moved about 5,000 BTC—equivalent to roughly $140 million—across three different addresses.

Furthermore, in August, a Bitcoin address believed to be from the era of Bitcoin’s enigmatic creator, Satoshi Nakamoto, was activated after being idle for nearly 13 years, transferring 1,005 BTC worth around $29.7 million. The age of this particular address reignited speculation about its possible ties to Nakamoto.

Other similar awakenings occurred in September and January, with transfers of $56.3 million (2,100 BTC) and a substantial $252.5 million (15,000 BTC) respectively, after extended periods of dormancy.

Low volatility

Currently, Bitcoin is priced at $27,595, marking a slight uptick of 1.1% over the past 24 hours, according to data provided by CoinGecko. With a trading volume of approximately $11.98 billion in the same period, Bitcoin’s market cap stands at around $538.38 billion.

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