Dormant Bitcoin Whale Suddenly Moves $60M in BTC After 12 Years
A significant Bitcoin investor who had maintained a dormant Bitcoin wallet for an extended period recently initiated movement of 1,000 BTC after nearly 12 years of inactivity. The crypto tracker Whale Alert reported that the ancient wallet executed transactions, transferring 998.73 BTC to one address and 1.263 BTC to another.
This particular investor had amassed the 1,000 Bitcoin stash back in September 2012 when the total value was a mere $12,223. Fast forward to the present day, with BTC trading at $64,682, the value of this stash has skyrocketed to over $64.7 million, reflecting an astonishing surge of almost 530,000%.
Over the past 12 years, the dormant wallet in question had sporadically received small amounts of Bitcoin, likely due to dusting attacks. These attacks involve sending tiny fractions of cryptocurrency to numerous personal wallets, aiming to compromise the privacy of the wallet holders. Subsequently, scammers attempt to track the transactional history of targeted wallets to unveil the identities behind them, leading to potential cyber-extortion and phishing schemes.
This recent transaction is not an isolated event among ancient Bitcoin holders. Just last Friday, a crypto wallet holding 25 BTC valued at $1.43 million was reactivated after lying dormant for over a decade. Similarly, on July 9th, Whale Alert detected movement from a wallet containing 24 BTC worth $1.44 million, which had been inactive for more than 11 years.
The resurgence of activity among long-dormant Bitcoin wallets underscores the evolving landscape of cryptocurrency investments and the potential for substantial gains over time. Investors and enthusiasts continue to monitor such movements closely, as they provide insights into market trends and the behaviors of early adopters in the crypto space.
