The cryptocurrency world is abuzz as a dormant Bitcoin address containing a staggering amount of coins worth $115.4 million has come back to life for the first time in more than a decade, according to blockchain tracker WhaleAlert. This sudden new movement has impacted the crypto community. Here are the details…
Bitcoin whale woke up after 10 years
A dormant address containing $115.4 million worth of Bitcoin came back to life on Saturday for the first time in more than a decade, according to WhaleAlert, a blockchain monitoring tool that analyzes transactions across different blockchains. The timing of this awakening is also critical. Because ten years ago, Bitcoin was a newly developing technology and was traded for only $ 440. This means that the whale in question witnessed his investments grow by a mind-boggling 15,600%. Today Bitcoin stands at $69,331. This makes the whale’s assets a truly life-changing fortune.
The reasons behind the whale’s reappearance are a source of intense speculation. Some crypto enthusiasts believe this may be a classic example of “diamond hands,” a term used to describe investors who hold onto their Bitcoin with unwavering faith despite market fluctuations. This scenario shows that the whale is a long-term believer in Bitcoin’s potential. So it shows that after a decade of HODLing, he has finally decided to tap into his wealth.
Another theory suggests the possibility of a forgotten fortune. Perhaps the original investor had lost his private keys, the digital password needed to access Bitcoin. Only recently did he manage to rediscover it. This scenario represents great luck as the whale encounters an unexpected event that will change its life.
Halving is approaching in BTC
The reawakening of this Bitcoin giant coincides with a significant event for the cryptocurrency: the upcoming Bitcoin halving. cryptokoin.com As we reported, this pre-programmed code reduction will halve the block reward for miners, potentially impacting the supply and price of Bitcoin. Some social media users are predicting a potential price drop for this whale. Because he thinks that he can prepare to sell some of his assets before the halving.
The whale’s identity still remains a mystery. The incident faintly echoes the silence surrounding Bitcoin’s enigmatic creator, Satoshi Nakamoto. Since disappearing from public view in 2010, Nakamoto’s identity has remained a closely guarded secret. However, large Bitcoin transactions involving Satoshi-era addresses do occasionally surface. This leaves the community wondering if the creator is still involved.
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