Dormant Bitcoin whale activates after 10 years with $100 million

user avatar

by Giorgi Kostiuk

2 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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.