The Awakening of Long-Sleeping Bitcoin Whales: Insights into Reawakened Million-Dollar Crypto Wallets

2023-09-19 16:35:16

A long-sleeping Bitcoin whale with roughly 2,100 BTC, or roughly $56.3 million at today’s prices, has awoken from its hibernation. According to blockchain security company PeckShield, the wallet, which has been unused for 6 years, recently showed signs of activity again. The address received this amount of BTC back in October 2017, when it was worth about $11.8 million, according to the exchange rate at the time. Sleeping whales It is possible that the owner decided to revive his address because he is preparing for some event, a major sale or investment. However, given the current price of Bitcoin, we don’t give it much chance. There are also cases where some owners simply move their existing inventory to another address, thus showing signs of activity. This is not the first time in the recent past that such a significant Bitcoin whale has reawakened after sleeping for many years. As we previously reported, after more than a decade of dormancy, a mysterious Bitcoin address dating back to the days of Satoshi Nakamoto has shown activity again. His wallet, which had been dormant for 13 years, had 1,005 BTC (approx. $29.7 million) resting on it. And in May, a whale that had been in hibernation for 12 years woke up after transferring 139 BTC to another address. At the time of writing, BTC is trading around $26,985, down 0.77% in the last 24 hours. In contrast, the world’s best-known cryptocurrency enjoyed a 3.44% increase over the past seven days.
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