Bitcoin Whales Move Billions After Long Dormancy
- A Bitcoin wallet “12tLs” transferred 10,000 Bitcoin (BTC) worth over $1 billion after holding it for 14 years.
- Two other whale addresses, “bc1qm” and “1GcCK,” also moved a combined total of 20,000 BTC after the same period.
- The whales’ holdings increased by more than 13 million percent since their initial acquisition in April 2011 when BTC was priced at $0.78.
- Public companies now hold a total of 3.47 million BTC, approximately 3.97% of the total supply.
- The S&P500 and Nasdaq reached new all-time highs, with optimism following a strong US jobs report.
These significant transfers indicate a shift among long-term holders who are cashing in on their investments after substantial gains over the years. Meanwhile, public companies continue to accumulate Bitcoin as part of their balance sheets, reflecting ongoing institutional interest.
The recent activity among Bitcoin whales highlights both the potential market impact of large-scale transactions and the continued strategic accumulation by public firms seeking to capitalize on cryptocurrency’s growth potential.(Source)
