Bitcoin whale came out of 11-year hibernation and moved 1037 BTC
Date: 2023-07-23 Author: Karina Ziganova Categories: BLOCKCHAIN, CRYPTO PAYMENTS
The owner bought the coins on April 11, 2011 at a price of $4.92 per BTC. At the time of writing, their value is about $37.8 million. These bitcoins belong to the "ancient reserve" - as analysts call tokens purchased at least 7 years ago.
Bitcoin whales are highly active
Recently, there has been a significant movement of "ancient bitcoins" in the market. Since the beginning of 2023, more than 4000 coins have come out of hibernation, with 1100 of them dating back to 2013.
It is generally accepted that the activity of old wallets is not a good sign. This may mean that the owner will sell the coins he owns in the near future. However, in some cases, holders simply move BTC to other addresses and continue to "hodl" them further.
Analysts at the Glassnode platform found that the probability of selling bitcoin by old holders is significantly reduced after 155 days. Moreover, a recent report showed that the number of BTC held for a long time is growing by 100,000 per month.
