The post Dormant Whale With 749 BTC Reawakens After 12-Year Dormancy As Bitcoin Price Charges Toward New All-Time High ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.

Advertisement &nbsp &nbsp A Bitcoin wallet containing 749 BTC acquired in 2012 has reawakened, with an anonymous user moving some of its long-dormant coins today after a long hibernation. The reactivation comes as the price of the alpha crypto has zoomed past the $71,000 mark for the first time since June. Early Bitcoin-Era Whales Keep Stirring As BTC Skyrockets According to on-chain data, a large Bitcoin holder who purchased 749 BTC in 2012 — and hadn’t touched it for years — transferred 159 BTC out of their wallet earlier today. The unknown ancient Bitcoin whale moved $11.32 million worth of Bitcoin to unknown addresses at 7:28 a.m. UTC. The whale last transferred 10 BTC (valued at around $110 then) on Nov. 10, 2012, when the total 749 BTC balance was worth just $8,151, blockchain sleuth Lookonchain said on X. Despite the recent moves, the whale wallet still holds $42 million worth of BTC. Bitcoin’s price is up 3.5% on Oct. 29, per CoinGecko data. With the premier crypto now trading for $72,761 a piece, the value of the wallet’s Bitcoin stash has grown over 6,500 times since the funds were last moved in 2012. Advertisement &nbsp Over the past year, several long-dormant wallets have been activated only to move the BTC holdings to new addresses. Some of these wallets were also found to have moved their BTC to crypto exchanges, hinting they might be looking to cash out after over a decade. Other Satoshi-era wallets are often speculated to be linked to Satoshi himself. One such wallet woke from dormancy earlier this month after 15 years and transferred a huge chunk of its BTC mined in the first two months after the Bitcoin network went live. The wallet movement spurred the most buzz on social media, with speculation that it…

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Filed under: News - @ October 29, 2024 9:23 pm