A Bitcoin wallet that’s been sitting idle for 12 years has suddenly come to life, and it’s got the crypto community noisy.
This dormant wallet, which hadn’t seen any action since 2012, transferred 159 BTC, worth about $11.75 million today, prompting discussions and speculations among investors and analysts alike.
A blast from the past
The owner of this wallet originally bought these coins when Bitcoin was trading at just $10.50 each.
Speaking about the good entry, right? That means they’ve racked up profit of around 700,854%! Pretty nice ROI.
This unexpected activity raises questions about how it might affect the cryptocurrency market and what could be motivating such a big move.
Whale Alert was the first to highlight this transaction, which is part of a trend where other long-dormant wallets are also waking up.
What’s behind the whale awakening?
The new growth of activity from these long-silent Bitcoin wallets already sparked plenty of curiosity and speculation in the crypto world.
Whales are like celebs, and especially the ancient ones are quite interesting. Aside from the 159 BTC transfer, another wallet moved 20 BTC after sitting untouched for 13 years, while yet another shifted 14 BTC after 11 years. Not whales, but their age still makes them attention-worthy.
So, why are these dormant whales suddenly making moves? There are a few possible reasons, for example with Bitcoin prices soaring, it’s a prime opportunity for early adopters to cash in on their investments.
Some whales might be looking to convert their crypto into cash or diversify their portfolios as market conditions fluctuate.
Also, it is possible that concerns about potential regulatory changes or issues with accessing private keys could prompt these investors to act now rather than later.
What’s next for Bitcoin?
As more of these dormant wallets come back to life, it’ll be interesting to see how it impacts Bitcoin prices moving forward.
Will we see a surge in selling pressure, or will these whales hold onto their assets for even bigger gains?
Only time will tell! Fortunately, these amounts aren’t enough for a big selling spree, so huge red days from them are unlikely.
