On July 4th, a Bitcoin whale that had been dormant for over 14 years activated and made significant transfers of BTC to new addresses.
Sequence of Events
On July 4th, a major Bitcoin holder, known as a 'whale', transferred 20,000 BTC to two new addresses. These transactions created quite a stir in the crypto community, as the wallet from which the coins were transferred had been inactive since 2011.
Financial Aspects of the Transfer
According to Lookonchain data, the first transfer consisted of 10,000 BTC valued at over $1.09 billion at the time of the transaction. Back in 2011, when the whale acquired these Bitcoins, they were worth around $8,000. Thus, the investment turned out to be highly successful, yielding a profit of 131,250 times. At the time of transfer, the 20,000 BTC were valued at over $2.1 billion.
Current Bitcoin Situation
At the time of writing, Bitcoin is trading above $108,800, down by 0.4% from 24 hours prior. Although this is related to recent price declines, institutional interest remains strong with nearly $602 million inflows into Bitcoin ETFs.
The transfer of 20,000 BTC highlights the activities of large Bitcoin holders and demonstrates long-term investment strategies in cryptocurrency.
