Bitcoin Whale Sleeping for Six Years Awakened! Moved BTCs Worth 56.3 Million Dollars to a New Address! Will It Sell?

Bitcoin It has been dormant for about 6 years while rising above $27,000. BTC wallet became active again.

Blockchain security company PeckShieldwho has not been active for a long time, in his post on his Twitter account, announced that a Bitcoin whale was carrying 2,100 BTC that had been idle for 6 years.

PeckShield announced that this whale has moved approximately $56.3 million worth of BTC at today’s price to a new wallet, “1LGnp5…GgM”.

PeckShield said that this whale first acquired these Bitcoins on October 19, 2017, and they were worth approximately $11.8 million at the time.

“On October 19, 2017, the BTC address that received approximately 2,100 Bitcoins (then worth approximately $11.8 million) and had been dormant for 6 years moved these BTCs to a new address “1LGnp5…GgM.”

The current value of these BTCs is $56.3 million.”

#PeckShieldAlert A dormant #BTC address 13RLtG…PXs, which received ~2,100 $BTC (worth about $11.8M at the time of transfer) on October 19, 2017, moved its $BTC (now worth ~$56.3M) to a new address 1LGnp5…GgM. pic.twitter.com/rchpCTI1va

— PeckShieldAlert (@PeckShieldAlert) September 19, 2023

Although there are various reasons why a Bitcoin whale that has not traded for years may take action again, it is generally interpreted that taking action after a long time means that it will sell.

However, it seems possible that it is preparing for an action such as reinvestment other than sales.

*This is not investment advice.