Bitcoin whales awoke after 14 years of dormancy, having held their BTC since it was trading below $0.78 a coin in 2011.
Bitcoin whales have reawakened after 14 years of patiently holding the world’s first and largest cryptocurrency, transferring billions of dollars in value.
A Bitcoin wallet “12tLs” transferred 10,000 Bitcoin
BTC worth over $1 billion after 14 years of holding the assets on Thursday.
The mysterious whale initially received the 10,000 BTC on April 3, 2011, when Bitcoin traded for about $0.78 a coin, according to blockchain data shared by Lookonchain in a Friday X post.
Hours later, two other whale addresses — “bc1qm” and “1GcCK” — also woke up after 14 years, each transferring 10,000 BTC, BitInfoCharts data shows.
The whales held their BTC for 14 years for a more than 13 million percent increase, TradingView data shows.
Some cryptocurrency traders monitor whale transaction patterns as a gauge for institutional Bitcoin demand and short-term price action due to the potentially market-moving amount of capital transferred.
The transfers follow a recent trend of long-term holders cashing in. About two weeks ago, another savvy investor realized a nearly $30 million profit after holding their Bitcoin stash since 2013 and realizing a 496-fold return on their $60,000 initial investment, Cointelegraph reported on June 23.
