In a surprising move, a Bitcoin whale with 1,128 BTC (worth approximately $31.6 million at current prices) that had been inactive for a decade has recently made a transfer. According to blockchain data from BitInfoCharts, the whale received 1,128 BTC in two separate transactions in October 2012 and May 2013, when the cryptocurrency's price was $12 and $195, respectively.
https://bitinfocharts.com/bitcoin/address/12At4GGP8J5p4MtdjNy1SPSkqKEM1mw2FS
The dormant whale made a transfer of 279 BTC, equivalent to $7.8 million, to three new addresses on April 21, 2023. It is unclear why the whale decided to move its funds after all these years of inactivity.
Bitcoin whales are individuals or entities that hold a significant amount of Bitcoin. These whales have the power to influence the market by buying or selling large amounts of the cryptocurrency. In this case, the transfer of such a substantial amount of Bitcoin from a dormant whale could potentially have an impact on the market.
The identity of the Bitcoin whale and their reasons for transferring the cryptocurrency remain unknown. Some speculate that the whale may have sold the Bitcoin, while others believe that the transfer could be part of a larger plan to distribute the funds to other addresses.
Regardless of the whale's intentions, the transfer serves as a reminder of the unpredictable nature of the cryptocurrency market. Bitcoin's value can fluctuate dramatically over a short period, and significant transfers like this one can have an impact on the market's overall sentiment.
As of the time of writing, Bitcoin's price is hovering around $28,000 per coin, which means that the 1,128 BTC held by the dormant whale would be worth over $31 million. It remains to be seen how the market will react to the recent transfer, and whether other dormant whales will follow suit in the near future.
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