Bitcoin Whale Moves $37M BTC After 11 Years of Dormancy
The movement is the latest in a trend of early buyers and holders moving their tokens to new wallets after several years of inactivity.
An early bitcoin (BTC) holder moved some $37 million worth of the cryptocurrency to fresh wallets after eleven years of inactivity, sparking discussions around what the intention of this could be.
The whale, a term for an influential holder of any financial asset, moved all of their 1,037.42 bitcoin to a new address "bc1qtl" in the wee hours of Wednesday. “The whale received 1,037.42 $BTC($5,107 at that time) on Apr 11, 2012, when the price was $4.92,” on-chain analytics firm Lookonchain .
Such large movements from early participants are typically uncommon. This movement could mean the holder is preparing to sell tokens, stake on an exchange, or diversify their holdings for other tokens.
The movement is the latest in a line of old wallets moving tokens such as bitcoin (BTC) or ether (ETH) to exchanges this year. In April, at least four wallets worth of bitcoin to exchanges or to other wallets.
Last week, a wallet that received over 61,000 ether (ETH) in the initial coin offering (ICO) eight years ago, transferred the entire amount to a wallet . Those holdings are worth over $116 million at curren t prices and were purchased for 31 cents a token during the ICO.
Edited by Parikshit Mishra.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
VIPBitget VIP Weekly Research Insights
The RWA (Real-World Assets) sector has been gaining significant traction in the crypto space, as it tokenizes traditional assets like real estate and bonds to bridge the gap between TradFi and DeFi. This process unlocks trillions of dollars in potential value, while enabling broader access to high-value investments through asset fractionalization, increased liquidity, and lower entry barriers. RWA also diversifies and stabilizes DeFi collateral options, addressing the sector's over-reliance on crypto-native assets and paving the way for large-scale adoption. With regulatory frameworks becoming clearer worldwide, the compliance advantages of RWAs are increasingly evident—drawing in institutional capital. What sets RWA projects apart is their connection to real-world income streams like rent and interest payments, offering more sustainable returns than purely speculative assets. These cash-flow-generating features appeal to investors seeking steady returns. As such, RWA is seen as a crucial step in the evolution of blockchain technology from concept to practicality. Its development potential and practical use cases make it an important sector in the crypto industry today.
Ethereum advances Pectra upgrade after Hoodi testnet success
Economist warns of a recession: Will Bitcoin and altcoins crash or rise?
Dogecoin Proves It’s Not Dead – $0.18 Retest Could Be The Beginning
Trending news
MoreCrypto prices
More
