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HomeCrypto NewsMarketBitcoin Whale Shifts 40,000 BTC Worth $4.26B After Over 14 Years of Dormancy

Bitcoin Whale Shifts 40,000 BTC Worth $4.26B After Over 14 Years of Dormancy

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A whale has reawakened after over 14 years of dormancy, shifting billions worth of Bitcoin over multiple wallets to new addresses.

Amid Bitcoin’s trend near $110,000, three Satoshi-era whale addresses have resurrected. 

Notably, a whale which has been dormant for at least 14 years reawakened on Friday to shift billions worth of Bitcoin. The timing of the shift has created a buzz in the crypto community as enthusiasts continue to discuss who the diamond-handed entity might be.

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HODL Experts Reawaken After Over a Decade

The spree started with wallet address “12tLs9,” which shifted 10,000 BTC worth early Friday by 03:43 (UTC). It moved the $1.09 billion worth of Bitcoin to the receiving address “1GcCk3,” Whale Alert identified.

Interestingly, on-chain data confirms that the wallet bought its Bitcoin stash for $7,792 in 2011, with its last transaction before now coming 14 years and 3 months ago. Today, it has emerged after three bull and bear cycles and achieved a staggering 1,402,861% return.

A few hours later, two more Satoshi-era wallet addresses reawakened. Whale Alert identified these eye-catching transactions in two parallel tweets, with each of the wallets’ past BTC purchases occurring at the same timeframe but at a slightly different price.

Addresses “1P1iTH” and “1CPazi” moved 10,000 BTC each after 14 years and 2 months. Notably, they respectively bought their bags at $34,023 and $34,016 in 2021. Notably, the former moved the funds at 12:39 (UTC) and the latter at 13:08 (UTC).

Here’s What Really Happened

Meanwhile, data from Lookonchain has provided further context to this random yet carefully timed Bitcoin shift. In a tweet, the market intelligence firm identified that these wallets belonged to a Bitcoin whale, who acquired 80,009 BTC in 2011.

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Lookonchain noted that the whale distributed the bitcoins over eight different addresses. Two received 20,000 BTC in April 2011. At the time of the transfer, these 20,000 tokens were worth $15,600 at $0.78 each, but now they have appreciated to $2.18 billion.

Six other addresses received 60,009 BTC at an average price of $3.37 in 2011. Overall, the whale spent $202,000 to buy the entire stash then, but it has grown with Bitcoin’s price to $6.52 billion at the current market price.

Bitcoin Transfers Among Four Wallets Tied to Whale

Interestingly, the analysis shows that the Bitcoin OG moved 40,000 BTC from four of his eight wallets today. At the time of writing, the other four remained dormant.

The whale’s massive gains highlight the value of buying and HODLing Bitcoin as a long-term investment. Notably, Bitcoin has moved from under $1 back in 2011 to $109,000 today, with analysts suggesting it is still early to buy the premier asset.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Elendu Benedict
Elendu Benedict
Elendu Benedict is a refined cryptocurrency writer with over two years of experience in the field. With a thorough understanding of blockchain technology, cryptocurrencies, and market trends, as well as proficiency with ETFs, DeFi, and Web3, he specializes in writing engaging and educational articles on a variety of crypto-related subjects.

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