The world of cryptocurrencies is undergoing changes, with the emergence of numerous new digital coins. Despite the competition, Bitcoin [BTC] remains one of the most profitable assets. With expectations of a substantial surge in the coming year, many individuals are preparing in their own unique ways. A specific Bitcoin holder who has remained inactive for six years has now decided to make a comeback.
Recent information provided by Arkham Intelligence suggests that a Bitcoin whale has allegedly initiated transactions involving 3,000 BTC, which is approximately equivalent to $82.37 million, spread across different wallets. This marks the first activity in six years. Notably, a significant portion, precisely 500 BTC, was sent to one specific wallet, while the remaining 2,495 BTC was directed to another wallet. What adds to the intrigue of this move is that both of these wallet addresses are entirely new. The wallet address bc1q55j8ankt9qlpvg6r9mgc0ty0r0jwpzw2dpwnpu now contains nearly 2,500 BTC, with a USD value of approximately $68.62 million.
It’s important to mention that the previously inactive whale, identified by the address 17TZNT8CBPzUPDfKTXC25RQHrW6M2q6kRo, has been accumulating Bitcoin over the years. The whale initially acquired 3,200 BTC seven years ago, with smaller investments made in the following years. However, six years ago, the same address transferred 204 BTC to another wallet, which currently holds no balance.
Bitcoin’s Slumbering Whales Return to Action
Inactive cryptocurrency wallets have begun to create substantial ripples in the market. This trend isn’t an isolated occurrence. For instance, a Bitcoin address that had remained dormant for three years recently initiated a transaction involving approximately 5,000 BTC. Likewise, in August, a significant event unfolded when a Bitcoin address believed to have origins dating back to the time of Bitcoin’s creator, Satoshi Nakamoto, was reactivated after lying idle for nearly 13 years. This address executed a transfer of 1,005 BTC, which is valued at around $29.7 million.
During the same period, wallets holding balances ranging from 1 to 10,000 BTC have markedly increased their accumulation efforts over the past six weeks. With their recent acquisitions, the total supply controlled by this group reached 15.2 million, marking the highest level since January 2022. It’s worth noting that these holdings were approaching an all-time high of 15.29 million, a record achieved during the peak of the bull market in November 2021.
At the time of writing, the price of Bitcoin was at $27,672.51, exhibiting no significant fluctuations.