Ancient Bitcoin Whales Wake Up From Slumber To Move Over $58,000,000 in BTC After a Decade: On-Chain Data

Two very early Bitcoin owners have suddenly shifted tens of millions of dollars in BTC after more than 10 years of dormancy.

Data from the whale-watching bot Whale Alert reported the abrupt awakening of an ancient Bitcoin wallet that moved 1,004 BTC worth $56.92 million after being dormant for 10.6 years.

On-chain data shows that the whale initially moved the BTC to an unknown wallet before transferring it to another wallet of unknown origin where the Bitcoin stack currently sits.

According to Bitinfocharts, the deep-pocketed investor spent over $1.132 million to accumulate the BTC trove in 2013 and 2014 when Bitcoin was trading below $800, indicating more than 4,920% gains after a decade of holding.

Whale Alert also spotted another ancient Bitcoin holder transferring 20 BTC worth $1.41 million after more than 11 years of inactivity. According to on-chain data, the entity relocated the BTC to an unknown wallet before shifting the Bitcoin trove to another unknown wallet.

Data from Bitinfocharts shows that the investor spent $1,676 to accumulate the Bitcoin stack in July 2013 when BTC was trading at around $80, suggesting gains of nearly 68,000% after 11 years of dormancy.

None of the Bitcoin stacks were sent to known crypto exchange addresses, where they could be potentially sold on the open market.

At time of writing, Bitcoin is trading for $57,700, an over 2% increase in the past day.

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The post Ancient Bitcoin Whales Wake Up From Slumber To Move Over $58,000,000 in BTC After a Decade: On-Chain Data appeared first on The Daily Hodl.