According to data from Arkham Intelligence, a previously inactive Bitcoin whale address has been reactivated and has moved 5 BTC to the cryptocurrency exchange Kraken.
Bitcoin Whale Reactivates
Earlier today, a dormant Bitcoin whale address reactivated and moved 5 BTC to the Kraken exchange. Data from Arkham Intelligence indicates that this was the third BTC transfer from this address in the past few weeks, after a decade of inactivity.
Wallet History
Arkham's research shows that the BTC wallet received its first bitcoin stash during the initial months of the network's existence, between January and March 2009. The whale made several transfers of their BTC between 2011 and 2014 before halting any movement. Over this period, the value of their holdings rose from under $500,000 in 2014 to approximately $80 million at today's prices. Three weeks ago, the address reactivated and made three transactions totaling 10 BTC. The wallet still holds 1,215 BTC worth $77 million.
Other Cases of Old Wallets Reactivation
Arkham also pointed out another wallet that recently reemerged after 15 years of complete silence. This wallet received funds during Bitcoin's early months and held 250 BTC worth $16 million at the time. Additionally, CryptoPotato reported in August about another dormant wallet that was active during Satoshi Nakamoto’s era. This address earned 250 BTC in May 2010 and transferred the funds to five new wallets last month.
The reactivation of old Bitcoin addresses highlights the enduring relevance and continual interest in the first cryptocurrency. It also raises curiosity about the motives of the holders and their plans for the future.
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