Dormant BTC Whale Wakes Up, Sends $60 Million For the First Time in 9 Years

A Bitcoin wallet that stayed dormant for more than nine years has recently sent out 2,071.5 BTC (worth over $60 million).

The address received a total of 6,071.5 BTC at the end of 2013, when the price of the primary cryptocurrency hovered around $663.

• Lookonchain revealed that the mysterious whale transferred the assets on April 20 after the wallet remained untouched for nine years and four months. The 2,071.5 BTC were sent to an address starting with “bc1q.”

A whale with 6,071.5 $BTC($178M) that has been dormant for 9.3 years transferred 2,071.5 $BTC($60.7M) out today.

And the 2,071.5 $BTC was finally transferred to the address starting with “bc1q”.

The whale received 6,071.5 $BTC on Dec 19, 2013, when the price was $663. pic.twitter.com/CBpoIy2mEk

— Lookonchain (@lookonchain) April 20, 2023

• The entire stash of 6,071.5 BTC was worth approximately $4 million on December 19 (the day when the wallet initially received the coins).
• Those holdings are currently worth around $176 million.
• The reason behind the move is unknown. Nonetheless, some speculate that crypto investors with substantial possessions have started moving old funds to new addresses as a protection measure.