Mysterious Whale Alert Over a Decade Dormant Bitcoin Wallets Move 1000 BTC
On May 12, a long-time Bitcoin (BTC) holder unexpectedly activated two dormant BTC wallets after 10.7 years, moving 1,000 BTC.
💤 💤 💤 💤 A dormant address containing 500 #BTC (30,494,084 USD) has just been activated after 10.7 years (worth 63,565 USD in 2013)!https://t.co/HcQ05ZMDPI
— Whale Alert (@whale_alert) May 12, 2024
The Whale Alert account posted each transaction at a 20-minute interval, as can be seen on X (formerly known as Twitter).The alerts state that these holdings were initially purchased by the addresses in 2013 for $62,890 and $63,565, respectively. T
he total stash was valued at $125,000 in September 2013, and these Bitcoin addresses were dormant for 10.7 years.
In light of this, the Lookonchain account also revealed the activity of the two dormant wallets, revealing that two addresses purchased 500 BTC on September 12 and September 13, 2013, when the price was $124.
This transaction also demonstrates the power of Bitcoin and the blockchain in general. According to the blockchain data, the owner of this multi-million dollar wallet sent two transactions totaling 1000 BTC: one at 09:46:05 UTC on May 12, 2024, for less than $1.73 (0.00002843 BTC), and the other at 10:06:19 UTC, for $1.72 (0.00002819 BTC).
The owner was able to transfer over $60 million worth of assets in 20 minutes for just $3.45, demonstrating the significance of digital currencies and their applications.
The owner of the wallets may have been an early miner who forgot about it or a mysterious whale that knows the potential value of the coin when you hold it. However, why move the stack now after over ten years of sitting dormant without being moved or sold? It could also mean the whale intends to sell the 1,000 BTC.
There is further mystery surrounding the whale alert, as the owner chose to move their assets to undisclosed wallets rather than cash out through exchanges.
In related news, on Sunday, May 5, a dormant Bitcoin wallet became active after 10 years, and the mysterious whale moved 687.33 BTC worth around $44 million. Some dormant addresses have woken up as a result of the increase in Bitcoin's price, as holders have taken advantage of the market conditions to diversify or liquidate their holdings.
Whaleinsider.news earlier reported that MicroStrategy acquired 122 BTC in April to bring total holdings to 214,400 BTC.
Disclaimer: This information should not be considered financial advice by any means. Please do your own research before making any investment decisions. The views in the articles are personal opinions only. Whale Insider is not responsible for any financial losses incurred.