Bitcoin Whale Wakes After 12 Years, Shifts $84 Million in Assets

A Bitcoin wallet that had been inactive for more than a decade moved 909 BTC late Monday, an on-chain transfer worth more than US$84 million (AU$128.5 million) at current prices.

The coins were sent from an address that first accumulated Bitcoin in 2013, when prices were below US$7, to a newly created wallet. Blockchain trackers Whale Alert and Lookonchain flagged the transaction, which represents an unrealised gain of more than 13,000% on the original holdings.

Moves by long-dormant “whale” wallets often draw market attention, particularly after Bitcoin’s rally above US$100K (AU$148K) last year. Such activity typically fuels speculation that early holders are preparing to sell into strength, potentially adding short-term pressure to prices. 

In this case, the Bitcoin has not been sent to an exchange, suggesting the transfer may reflect internal consolidation or a security-related address change rather than imminent selling.

Related: From Metaverse to Institutional Money: Why Real-World Assets Are Blockchain’s Real Breakthrough

A New Whale Appears

Actually, it’s been quite a few weeks since we’ve seen news of whales moving a large stash of crypto. Last time a BTC wallet address moved a considerable amount was in December, when a wallet linked to Silk Road suddenly moved its funds after ten years of inactivity.

It’s worse for Ethereum. Crypto News Australia reported how an ICO-era wallet awakened after ten years and, instead of selling, it staked US$120M (AU$178M) of its ETH, which is a considerable move.

Bitcoin last changed hands near US$89K (AU$132K), a 5% decrease in the last 24 hours and 8.1%. Ethereum, well, not doing great either; down 10% in the last seven days. 

Gold and silver are also outpacing Bitcoin and Ethereum in terms of price and volume. Gold alone reached US$4,750 (AU$7,058), a new all-time high, as geopolitical tensions increase.

Read more: The End of the Trump Trade: Crypto Grows Up

The post Bitcoin Whale Wakes After 12 Years, Shifts $84 Million in Assets appeared first on Crypto News Australia.