Transfer 1,000 BTC after 11 years of sleep

8:00 am ▪ 4 min reading ▪ by Mikaia A.

Bitcoin Whales Break Silence! After a tumultuous march for the leading cryptocurrency, LookOnChain reveals that two well-endowed wallets carrying 500 BTC each have awakened. It’s a tidy sum of over 60 million dollars!

Bitcoin’s rejuvenating baths

Meanwhile, Bitcoin continues its yo-yo game, threatening to fall to $50,000. But for some whales, it’s time to make big moves and transfer their precious BTC.

Bitcoin wallets, dormant for nearly 11 years, suddenly transferred 1,000 Bitcoins (BTC) in 20 minutes, leaving the crypto community in anticipation, reveals Crypto News.

Initially stocked in September 2013, wallets ’16vRqA’ and ‘1DUJuH’ received 500 BTC each, when Bitcoin was worth just $124 each. But now, Bitcoin has grown and 1,000 BTC is now worth over 60 million dollars, an impressive increase of 49,274.2%.

The sudden awakening of these ancient wallets has sparked a firestorm in the crypto community, fueling wild speculation about their owner and his intentions.

Some wonder whether these funds come from the famous Silk Road cache, perhaps in the hands of the US government. Others, more fanciful, speak of the hypothetical return of Satoshi Nakamoto, the mysterious inventor of Bitcoin, coming to claim what is owed to him in millions of coins.

The market is closely watching these old wallets because their movements could disrupt market dynamics if they dump their precious coins into the open market. The cryptosphere holds its breath in anticipation of discovering the intentions of this mysterious crypto whale.

The mysteries of sleeping whales

The crypto market holds its breath at the emergence of long-dormant bitcoin whales. These movements, often interpreted as a bearish signal, can greatly influence market dynamics if these precious coins are sold.

Despite the phenomenal profit margins, the owners of these portfolios were not in a hurry to cash in on their gains through the exchanges. Instead, they transferred their assets to anonymous wallets, thus adding another layer of mystery to their intentions.

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In the world of Bitcoin, many holders have held on to their coins through multiple market cycles. More than 1.8 million bitcoins are considered “lost”, locked in inactive wallets for years.

This sudden reappearance of sleeping whales underscores the value of long-term ownership in the Bitcoin community. However, as the activity of these sleeping whales intensifies, data shows that it often preceded trend reversals, usually downwards.

However, despite these movements, global sleeping whale activity remains relatively low on the Bitcoin network. Although BTC is currently trading at $61,000, only 1,056 BTC has been moved in this category, far from the 10,000 units seen during previous highs. Forecasts vary, with some signaling a possible rise to $72,000, others warning of an imminent collapse. Either way, the altcoin season promises to be busy.

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Mikaia A.

The blockchain and cryptography revolution is underway! And on the day that the impacts were strongly felt in the economy, the most vulnerable in this world, although with all hope, I said that you are the one who chose

DISCLAIMER

The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.

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