U.Today

According to on-chain data, a long-dormant Bitcoin whale has re-emerged, moving a large stash of BTC that was untouched for over a decade.

Whale Alert states, "A dormant address containing 81 BTC worth $5,189,542 was activated after 10.9 years, which was valued at $44,707 in 2013."

The BTC holder, who has kept their Bitcoin stash since 2013, has reportedly seen gains of 11,507% in their holdings.

Back in 2013, the 81 BTC were valued at $44,707. Fast forward to 2024, with Bitcoin's price currently over $63,000, it is now worth $5,189,542, marking an 11,507% increase on the stash.

The reasons for the sudden activation of the wallet after such a long time remain unknown. Possibilities include an early adopter planning to sell, a long-forgotten address with newly discovered keys, or the holder transferring the BTC to a more secure wallet.

This move adds to previous instances where dormant Bitcoin wallets have awakened in recent weeks.

Last Friday, over 250 BTC from the early days of Bitcoin, often referred to as the "Satoshi era," were transferred in five distinct transactions, each moving 50 BTC to other wallets, totaling over $13 million.

Bitcoin whales making moves

Bitcoin is experiencing slight profit-taking after a significant rally, having risen for six consecutive days amid the Fed's recent rate cut last week. At the time of writing, BTC was down 0.99% in the last 24 hours to $63,557 and up 7.87% in the past week.

As Bitcoin awaits its next major move, BTC whales have been active in the last 24 hours.

According to Spot On Chain, a Bitcoin whale deposited 750 BTC worth $47.9 million to Binance for profit. In another transaction reported by Lookonchain, a whale withdrew 1,343 BTC worth $84.8 million from Binance a few hours ago.

This article was originally published on U.Today