A Bitcoin BTC/USD whale that had been dormant for over ten years has sprung into action, transferring a massive $207.51 million worth of Bitcoin.
What Happened: The Bitcoin whale shifted 2,186 BTC to another wallet. This Bitcoin stash was first received by the dormant wallet in July 2013 when BTC was priced at $85. At the time of this recent transaction, Bitcoin was trading at $94,929, indicating a price increase of about 111,581% over nearly 142 months.
According to the report by BitInfoCharts, the whale also transferred a smaller Bitcoin stash that it received on two separate occasions in 2014.
In March 2014, the wallet received 82 BTC when Bitcoin was trading around $612, and in November 2014, it received 75 BTC when Bitcoin was approximately $377.
Also Read: Bitcoin Whale Takes $332 Million Short Position, Here’s Where It Gets Liquidated
During its period of inactivity, the wallet also received small amounts of Bitcoin, suggesting that it may have been a target of dusting attacks. These attacks aim to de-anonymize a cryptocurrency user by sending small amounts of Bitcoin to an address to monitor the user’s holdings and transaction activities.
Why It Matters: The sudden activity of this ancient Bitcoin whale is significant in the cryptocurrency market. It highlights the potential for large, dormant accounts to suddenly become active and make substantial transactions. This can have a considerable impact on Bitcoin’s price and market dynamics.
The whale’s massive profit also underscores the substantial price appreciation of Bitcoin over the past decade, reinforcing its status as a lucrative investment.
The dusting attacks on the wallet further emphasize the ongoing security and privacy concerns in the cryptocurrency space.
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