A big Bitcoin (BTC) whale, worth $37.8 million after more than 10 years of inactivity 1,432.93 Bitcoins transferred to a new address.
Bitcoin (BTC) Whale Transfers Nearly $40M After 10 Years of Sleep
According to chain analyst Lookonchain, the address first received Bitcoin on April 9, 2013, when the Bitcoin price was only $195.40 per coin.
This latest transfer comes after a series of similar moves in recent months.
On April 24, a bitcoin whale address that had been inactive for 12 years transferred approximately $11 million worth of Bitcoin to another address.
The move comes just days after another whale address transferred nearly $61 million worth of Bitcoin after nine years of inactivity, and a separate wallet transferred 279 Bitcoins ten years later.
While it is difficult to pinpoint the exact reasons behind these transfers, several theories have emerged to explain such events.
One possibility is that these transfers are the result of long-term holders deciding to move their funds for various reasons, such as portfolio balancing or securing assets in a more up-to-date wallet with advanced security features.
Another plausible explanation is that these transactions may be linked to early adopters or early Bitcoin miners who choose to cash out some of their assets.
With Bitcoin’s increasing value over time, it is not unusual for individuals who have owned the cryptocurrency for a significant period of time to make substantial profits and seek liquidity by selling some of their holdings.
*Not investment advice.
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