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Cryptocurrency News Articles
Bitcoin (BTC) Whales From the Satoshi Era Are Waking Up to Move Their Stash as the Cryptocurrency Gathers Upward Momentum
Oct 21, 2024 at 02:09 pm
Bitcoin address, dormant for roughly 11 years, transferred 21.87 BTC to another address Sunday overnight. The stash was worth $16,252 when it last moved
Bitcoin (CRYPTO: BTC) investors were suddenly waking up after years of dormancy to move around their stash as the leading cryptocurrency gathers upward momentum toward all-time highs.
On-Chain Analytics: On-chain analytics firm Whale Alert reported that a Bitcoin address, which last moved in 2013, shifted 21.87 BTC to another address Sunday overnight.
The stash was valued at $16,252 the last time it moved in 2013, Whale Alert noted. As of this writing, the total value of the holdings was around $1.5 million, indicating a massive 9159% return.
A dormant address containing 21 #BTC (1,516,136 USD) has just been activated after 10.9 years (worth 16,252 USD in 2013)!https://t.co/nraQNaK8Ho
Similarly, a Satoshi-era whale transferred 20 BTCs to another wallet a little earlier in the day, which at the time of the transfer netted a 411596% return.
"Satoshi Era" is a popular term in cryptocurrency parlance, referring to the phase from 2009 to 2011, when Nakamoto was actively working and promoting the project.
A dormant address containing 20 #BTC (1,370,949 USD) has just been activated after 13.4 years (worth 333 USD in 2011)!https://t.co/kVjmSgEdlf
The movement of such old Bitcoins picked up pace this month. It wasn’t immediately clear whether the transfer was meant to sell and lock in profits.
The movements of Bitcoin whales, especially those from the Satoshi era, are closely watched by the cryptocurrency community. These whales hold a significant amount of Bitcoin, and their transactions can potentially impact the market.
According to blockchain research firm CryptoQuant, whale inflows to exchanges lifted significantly last week, which could be a sign of sell-offs to come.
Bitcoin Price Action: At the time of writing, Bitcoin was exchanging hands at 68,773.18, up 0.73% in the last 24 hours, according to data from Benzinga Pro.
See More: Best Cryptocurrency Scanners
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