Dormant Whale Address Stirs After 12 Years, Transfers 1000 BTC

IconCryptoNewsTerminal Staff14 Jul, 2024

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Dormant Whale Address Stirs After 12 Years, Transfers 1000 BTC

On-chain data from Whale Alert reveals that a Bitcoin (BTC) whale address that has been dormant for nearly 12 years has sprung to life, transferring 1000 BTC, valued at approximately $59.98 million, to an external address. The transaction occurred approximately 2 hours and 30 minutes ago, as per Whale Alert's tweet. While the reasons behind this sudden movement of funds remain unknown, it has sparked speculation and curiosity within the cryptocurrency community. Some speculate that the whale may be preparing to sell their BTC holdings, while others believe they could be transferring funds to a different wallet for safekeeping or investment purposes. Regardless of the whale's intentions, the transaction serves as a reminder of the long-term nature of Bitcoin and the potential for significant price appreciation over extended periods.

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