An unknown Bitcoin whale that has been inactive since 2013 has suddenly come to life, transferring a significant amount of BTC to a new address.
Sudden Activity
According to reports, an unknown Bitcoin whale that has been dormant for more than 11.5 years suddenly started moving cryptocurrency. Specifically, 25,015 BTC were transferred from address '1MVvvtH' to new address 'bc1qvfz'.
Financial Results
This volume of cryptocurrency, purchased for $686 nearly 11.5 years ago, is now valued at $1.59 million. This translates to an incredible profit of 231,778%. Over the entire period since 2013, this amounts to approximately 20,154.6% per year.
Possible Reasons
The reasons for the revival of the dormant wallet remain unknown. Perhaps someone remembered their seed phrase, or maybe they decided to transfer funds to the new standard bc1 wallet, which offers improved error correction and smaller transaction sizes. It is also possible that the investor decided to cash out after holding on to their funds for a long time.
Bitcoin continues to trade around $63,000 per BTC. It will be interesting to see what happens to the price of the leading cryptocurrency in the coming months.
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