Bitcoin Whale Moved 1000 BTC After Nearly 12 Years of Hibernation

An unknown major Bitcoin hodler, known as a "Bitcoin whale", made a significant transfer of 1,000 BTC ($62.5 million) to a new address after almost 12 years of inactivity. This move was a notable event in the cryptocurrency community, considering that his investment grew by 500,000% during this time.

According to Whale Alert, the holder purchased Bitcoin in September 2012, when the value of his portfolio was only $11,908. This means that his assets remained untouched for 11 years and 9 months. On the evening of July 14, 2024, when the transfer took place, Bitcoin was trading around $60,000, resulting in a significant profit for the hodler.

An interesting fact is that the transaction was initiated back on January 19, 2024, but it was only on July 14 that it was included in block 852,190 and processed. Thus, the transaction was awaiting confirmation for almost six months. At the time the transfer was initiated, Bitcoin was trading at $41,650. If the transaction had been completed then, the user would have received only $41.6 million.

At the time of writing, Bitcoin is trading around $62,554, marking significant gains. On the night of July 15, 2024, Bitcoin showed a noticeable increase in price, which may be due to the activity of large hodlers.

Bitcoin whales often liquidate their positions as the price of Bitcoin rises. This case is no exception, and similar events have happened before. For example, another hodler transferred 1,000 BTC after six years of hibernation, which also attracted the attention of the cryptocurrency community.

The movement of 1,000 BTC after almost 12 years of inactivity highlights the significance and volatility of the Bitcoin market. Such transactions can have a significant impact on market prices and attract the attention of both investors and analysts. The story of this Bitcoin whale reminds us of the potential of long-term investment in cryptocurrencies and the importance of closely monitoring market trends.