A Bitcoin (BTC) whale has been awakened from its nearly twelve-year hibernation by moving a whopping 1,000 Bitcoins. These Bitcoins were acquired in 2012 when the price was just over $10 each. They now represent an astronomical value of tens of millions of dollars.
Tens of millions of Bitcoin in motion
Thanks to the transparent nature of the blockchain, it is possible to track and analyze every outgoing BTC transaction. Of course, not every movement is equally interesting, but transactions involving large amounts of Bitcoin, such as those from whales, often attract attention.
This time, the transaction of an ancient bitcoin whale caught the eye. The wallet in question finally moved its contents of 1,000 Bitcoins back onto the blockchain after being left in the dust for 11 years and 9 months.
In October 2012, less than four years after the Bitcoin network was founded, the wallet received 1,000 Bitcoins from another wallet address. At the time, the Bitcoin price was still hovering around a mere $12, meaning the total stack was worth around $12,000.
Up until last Sunday, the wallet had not made a single outgoing transaction. This is remarkable to say the least, given the price trend of Bitcoin over the past twelve years. Many had long since parted with (part of) their Bitcoins after a return of hundreds of thousands of percent.
As on-chain monitoring platform Whale Alert reported on social media platform X last night, the wallet sent its 1,000 Bitcoins to two different wallet addresses. At a current price of $63,000, the total stack now carries a remarkable value of a whopping $63 million dollars.
Reason Behind Strange BTC Transaction
The transparent nature of the blockchain does not extend to revealing the motive behind transactions. However, when Bitcoins are sent to a crypto exchange, one can assume that they are dumped on the market. However, this was not the case at the moment, so it remains speculation. Furthermore, it is not clear what the identity of the wallet owner is.
Remarkably, the transaction was first broadcast on January 19 of this year, according to data from Blockchain.com. At the time, the Bitcoins were still worth around $41.6 million. Due to the delay between the broadcast of the transaction and it actually being included in a transaction block on the blockchain, the fortune has now increased in value by more than $20 million.
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Source: https://newsbit.nl/bitcoin-whale-verplaatst-btc-fortuin-na-12-jaar-met-gigantische-winst/
