Investing.com - Financial Markets Worldwide
📢 The ProPicks AI strategy to watch when Tech rally slows down. It did 2X the S&P in July!Unlock AI Insight

Dormant Bitcoin Whale Awakens After 6-Year Hiatus

Published 2023-10-11, 03:15 a/m
© Reuters. Dormant Bitcoin Whale Awakens After 6-Year Hiatus
BTC/USD
-

U.Today - After lying dormant for six years, a Bitcoin whale has suddenly reemerged, 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 addresses waking from their slumber. Another Bitcoin address, inactive for three years, recently 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 of 1.1% over the past 24 hours, according to data provided by . With a trading volume of approximately $11.98 billion in the same period, Bitcoin's market cap stands at around $538.38 billion.

This article was originally published on U.Today

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.