Dormant Bitcoin Whale Moves $60M Worth of BTC After Nearly 12 Years

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As a long-term Bitcoin investor with a keen interest in the crypto market and its dynamics, I find the recent activity of dormant whale wallets quite intriguing. Having entered the scene back in 2012 when Bitcoin was still an obscure project trading at just over $12, I have witnessed the ups and downs of this digital asset class firsthand.

Based on information from Spot On Chain, a Bitcoin wallet that had been inactive for approximately 12 years suddenly became active today and moved around $60 million in Bitcoin to two different wallets.

In September 2012, my digital wallet held a total of 1,000 Bitcoins. At that time, this cryptocurrency was largely unknown to the general public and its value hovered around $12 per coin.

The month of long-dormant whales 

Notably, a rather high number of ancient Bitcoin addresses has been activated during this month.  

On July 12, two dormant Bitcoin addresses, holding a combined total of 50 Bitcoins, became active after over a decade of being inert.

On July 8, an address containing 48 Bitcoins got activated after as many as 13 years. 

On July 6, a significant Bitcoin holder, inactive for over a decade, resurfaced, awakening 1,004 dormant Bitcoins.

Two wallets belonging to whales have become active this month, each holding over 1,000 Bitcoins.

It’s unexpectedly busy with long-dormant whales being active in July. For context, just three transactions related to these Bitcoin whales were detected by Whale Alert in April. May saw six such transactions occur. However, Whale Alert reported no activations of long-dormant wallets during June.

Bitcoin’s stunning recovery 

According to U.Today’s report, the primary cryptocurrency attained a peak of $62,000 today, marking its highest point since early July.

However, it is unlikely that the most recent transfer is related to the Bitcoin price spike. 

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2024-07-15 09:36