After 4 Years, Dormant Bitcoin Whale Moves $137 Million in BTC

A Dormant Bitcoin Whale Transfers $136.94 Million Worth of BTC

After approximately four years of inactivity, a Bitcoin wallet address has come back to life. The dormant whale recently moved its entire stash of 3,623 BTC, which is valued at around $136.94 million, to two new wallets.

The Whale’s Profit and On-Chain Data

According to on-chain data, the whale accumulated the 3,623 BTC between October 25, 2018, and December 31, 2019. At that time, Bitcoin was trading at an average price of $6,889. Now, with Bitcoin’s current market price, the investment has skyrocketed to $136.94 million, resulting in a profit of approximately $112 million.

An Interesting Aspect to the Market

The significant movement of funds by dormant whales introduces an interesting aspect to the crypto market. Owners may decide to use or move their inactive coins based on factors like increased value and profit opportunities. This decision can be complex and depends on individual circumstances.

Flurry of Dormant Whale Movements

In 2023, amidst the market recovery, there have been several instances of previously dormant whales making sudden movements with their wallets. Earlier this month, three Bitcoin whale addresses transferred a total of 6,500 Bitcoins worth approximately $230 million to new wallets. Similarly, in September, a dormant address transferred over $46 million worth of crypto after six years of inactivity. Another whale that had been inactive for over a decade woke up in July and transferred $31 million in BTC.

Hot Take: Dormant Whales Resurfacing Raises Questions

The resurgence of dormant whales in the crypto market raises questions about their motives and the potential impact on the market. As these whales begin to move their significant holdings, it can create sell pressure or indicate shifts in their investment strategies. It’s a reminder that even long-dormant assets can have a significant impact when they become active again. The movements of these whales serve as a reminder for crypto investors to stay vigilant and monitor market trends closely.