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Bitcoin Genesis Whale Returns After 10 Years of Dormancy With 11,000% Gains

Bitcoin Genesis Whale Returns After 10 Years of Dormancy With 11,000% Gains

On-chain data indicates that a long-silent Bitcoin whale has resurfaced, transferring a sizable Bitcoin holding that hasn’t been touched in more than ten years. Whale Alert, a prominent large transaction tracker, indicated that “A dormant address containing 81 BTC worth $5,189,542 was activated after 10.9 years worth $44,707 in 2013.”

According to reports, the Bitcoin holder who has stuck onto their stash since 2013 has experienced an ROI of 11,507%. Back in 2013, the 81 BTC were worth $44,707, however at the time of writing, the Bitcoin stash is now worth $5,189,542, up 11,507%, per its current price of over $63,000 per coin.

The reasons for the wallet’s abrupt activation after a decade remain unknown. However, we can speculate that it may be an early adopter looking to sell, a long-forgotten address with recently discovered keys, or the holder shifting their Bitcoin stash to a safer wallet. This move follows past instances in which dormant Bitcoin wallets have reawakened in recent weeks.

Over 250 Bitcoins from the “Satoshi era,” the early days of Bitcoin, were moved last Friday in five different transactions totaling over $13 million. Each transaction sent 50 Bitcoins to a different wallet.

Other Bitcoin Whale Transactions

A Bitcoin whale reportedly made a profit of $47.9 million by depositing 750 BTC to Binance, according to Spot On Chain. Another whale removed 1,343 Bitcoin from Binance, valued at $84.8 million, in a different transaction that was recorded by Lookonchain a few hours ago.

Meanwhile, after a significant surge that saw BTC increase for six straight days in response to the Fed’s massive rate decrease last week, Bitcoin is now experiencing some profit-taking. As of this writing, BTC had increased 7.31% over the previous week and up by 0.22% within the previous 24 hours to $63,580.

Final Thoughts

The reactivation of a long-dormant Bitcoin whale after more than a decade provides a fascinating glimpse into the long-term potential of cryptocurrency investments. The 81 BTC, now worth over $5 million compared to just $44,707 in 2013, represents an 11,507% return on investment, underscoring the dramatic appreciation of Bitcoin over time.

This movement raises curiosity, as the reasons behind such a significant wallet reawakening remain unclear. The possibilities range from the holder deciding to cash out some of their long-held gains to shifting their assets to a more secure wallet. In any case, this transaction reflects both the enduring appeal of Bitcoin for early adopters and the enormous wealth it has generated for those with the patience (or luck) to hold on during its early days.

These movements by dormant whales add intrigue to the already volatile cryptocurrency market. Significant whale activity, like the recent transfer of 250 Bitcoins from the Satoshi era, tends to spark speculation and ripple through the market. As seen with other whale transactions, large Bitcoin holders can strategically impact the market, triggering profit-taking or sparking investor interest.

This underscores the outsized role whales play in influencing Bitcoin’s liquidity and price movements. While Bitcoin has shown resilience and growth in recent weeks, these kinds of whale movements are important to watch, as they can signal broader trends or market shifts, especially when coupled with macroeconomic factors like the Fed’s rate cuts.

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