Dormant Bitcoin whale activates after 10 years with $100 million

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by Giorgi Kostiuk

3 years ago

Made with AI

A Bitcoin address containing 1,701 BTC, valued at $115.41 million, has not been used since 2014. Recently, the dormant Bitcoin whale accessed this old address to perform a 50 BTC transaction on April 6, Saturday.

This wallet is a legacy Bitcoin wallet starting with '1,' like '1CLxm...1oeUZ'. In 2014, the whale spent 2,570 BTC, equivalent to $1.60 million at the time when Bitcoin was $625. After that, it remained inactive for a decade, accumulating a total of 4,272.29 BTC over time, now worth almost $300 million in total.

The dormant Bitcoin whale's recent activity initiated Foundry USA's participation at block height 837,959, visible through only three confirmations currently. The whale paid a whopping $0.93 in fees to complete the 50 BTC transaction it made.

This legacy address utilized 245.99 BTC for the recent transaction, where 50 BTC were sent to another legacy address '1PRRE...sGjRo' which had just been activated. Following the transaction, the whale received 195.98 BTC change in a modern SegWit address 'bc1qg...fxrk7,' suggesting a wallet update.

For Bitcoin investors, it is crucial to keep an eye on this dormant Bitcoin whale, as their decision to sell coins can significantly impact the market. However, it remains uncertain whether this activity is merely managing balances or signifies something else. Monitoring dormant whale activity can serve as an essential market indicator when making investment choices, possibly hinting at a bearish sentiment emerging.

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