Bitcoin Whale Awakening: Major $43 Million Transaction After a 10-Year Sleep
Date: 2024-05-06 Author: Henry Casey Categories: BUSINESS
An important event in the world of cryptocurrencies is the awakening of a long-dormant Bitcoin whale, which suddenly moved 687 BTC, valued at $43 million. The user has not been active for more than 10 years, since receiving this amount of Bitcoin in 2014.
In 2014, a user received 687.33 BTC at a price of $917, which was more than $630,000. Since then, Bitcoin has increased in price by almost 70 times, bringing the value of this asset volume to more than $43 million.
New Investments and Analytics
This asset movement comes at a time of significant cryptocurrency investment activity. Large investors purchased 19,760 BTC worth $1.2 billion, likely spurring additional transactions from long-dormant whales.
Historical data shows that large transactions by Bitcoin whales often precede significant changes in the price of Bitcoin. This could be a sign of an expected increase in the price of the first cryptocurrency.
Additional Savings
In addition, Santiment reported that Bitcoin whales have accumulated an additional 266,000 BTC since the start of 2024, amounting to $17.3 billion. This indicates that large Bitcoin holders continue to increase their positions.
To sum up
These events occur against the backdrop of the continued growth of Bitcoin, which overcame the $65,000 level and strengthened there. This growth and subsequent transactions by major players may be indicators of the further development and strengthening of Bitcoin’s position as the main asset of the digital market.
The awakened Bitcoin whale and its $43 million transaction became another important moment in the history of the first cryptocurrency, emphasizing its significance and influence on global financial markets.
