An enormous stock of dormant Bitcoins BTC/USD, untouched for nearly nine years, sprang to life on Tuesday when a whale transferred more than 2,101 Bitcoins valued at $88.55 million.
What Happened: Data from btcparser.com, shows that on February 17, 2015, accumulated the dormant bitcoins and were first detected at the address “1DJs7.”
The owner of this wallet did not move these Bitcoins until Tuesday when they transferred 2,101 BTC to two new addresses after lying dormant for eight years and ten months.
When “1DJs7” received the 2,101 BTC back in 2015, the total value was $510,543, and each Bitcoin was worth $243.
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Why It Matters: In 2023, Bitcoin saw a surge of more than 160%, which can be attributed to the optimistic outlook towards Bitcoin spot ETF.
Last week, a single whale moved more than 5500 Bitcoin worth $234 million in a single transfer. Data from Blockstream shows the whale moved the Bitcoin to a wallet that still holds all the BTC, which has propelled it to become the 307th-richest Bitcoin whale in the world.
Photo via Shutterstock
Price Action: At the time of writing, BTC was trading at $42,439 down 1.60% in the last 24 hours, according to Benzinga Pro.
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