An ancient Bitcoin (BTC) whale has just woken up after nearly 11 years of hibernation.
Blockchain tracking bot Whale Alert say on the social media platform
“A dormant address with 100 BTC (USD 6,113,890) has just been activated after 10.8 years (worth USD 83,492 in 2014)!”
Bitcoin’s massive price increase over the past decade puts the wallet in green territory with gains of over 7,222%.
After receiving 100 BTC on January 4, 2014, the wallet made no further movements until today, when that 100 BTC was sent to another address.
Whale alert noted also saw similar whale activity last week, when an old address moved millions of dollars in Bitcoin.
“A dormant address with 99 BTC (USD 6,097,440) has just been activated after 10.7 years (worth USD 83,068 in 2014)!”
In total, the two whales moved 199 BTC worth over $12 million.
Last month, similar transfers were attributed to BTC miners offloading rewards from 2009.
“Please note that many mining wallets that have been inactive for more than 15.5 years are transferring BTC… These wallets received 50 BTC as mining rewards per block in 2009.”
At the time of writing, Bitcoin is trading at $61,983, up marginally in the past 24 hours.
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Generated image: Midjourney