Bitcoin Whale Moves $40 Billion After Decade of Inactivity
- A dormant bitcoin wallet moved coins worth $40 billion on Sunday, after being inactive since November 2013.
- The transfer occurred around 19:16 UTC, moving BTC from address “1KAA8GGhVjjUjVTz1HKAjCyGNzAKQd882j” to “bc1qm6m6d33d02edr0k8yj9jgt027zl6dvx6thjrxy.”
- The destination address is not linked to any known exchange wallet, leaving the reason for the transfer unclear.
- Dormant wallets have resurfaced as Bitcoin’s price crossed $100,000 in late last year, with many early investors taking profits.
- As of now, Bitcoin is trading near $80,700, down over 1% since midnight UTC.
The recent activity highlights a trend of large holders moving their Bitcoin for various reasons including security and management. Notably, several wallets from the Satoshi era have also been activated recently amid significant price movements.
This transfer marks a significant event as it involves a substantial amount of BTC that had remained untouched for over a decade. The wallet’s last activity was in November of the previous decade when it acquired its holdings.(Source)
