Dormant Bitcoin Whale Wakes up After 11 Years to Transfer $31M in BTC

A Bitcoin wallet that was inactive for more than a decade has recently sent out more than $30 million worth of BTC to another address.

The whale received the stash in mid-April 2012 when the USD valuation of the primary cryptocurrency was south of $5.

• As revealed by Lookonchain, the mysterious whale who was hibernating for more than 11 years transferred the assets worth approximately $31 million (calculated at current prices) to a wallet containing the abbreviation “bc1qt180” on July 22.

A BTC whale that has been dormant for 11 years transferred all 1,037.42 $BTC($37.8M) to a new address”bc1qtl” an hour ago.

The whale received 1,037.42 $BTC($5,107 at that time) on Apr 11, 2012, when the price was $4.92.https://t.co/k8ZmO5vc8X pic.twitter.com/xBaw2dQfY8

— Lookonchain (@lookonchain) July 22, 2023

• The total holdings of 1,037.42 BTC were received on April 11, 2012, when the leading digital asset was trading at $4.92. Due to bitcoin’s price increase over the years, the stash is currently worth 606,000% more.
• Many Twitter users who commented below the post were baffled by the whale’s actions, with some assuming they might have lost access to their private keys or got temporarily hacked.
• Others suggested that the BTC investor had missed their chances to reactivate the holdings by two years, pointing to bitcoin’s all-time high price back then.
• As CryptoPotato reported, another whale who remained inactive for nine years woke up in April this year to transfer 2,071.5 BTC to a new address. The stash was worth more than $60 million at the time of the transaction, whereas it equaled $1.3 million in 2013.