Bitcoin
Bitcoin Whale moved US$43 million in BTC for the first time in 10 years
A Bitcoin whale that has been inactive for over 10 years moved 687 BTC worth $43 million.
According to data from Lookonchain, the whale received 687.33 Bitcoins (Bitcoin) on January 12, 2014, valued at around $630,000 at a time when BTC was priced at $917.
A wallet that was inactive for 10.3 years transferred all 687.33 $BTC($43.94 million) released 10 minutes ago.
The whale received 687.33 $BTC($630,000 at the time) on January 12, 2014, when the price was $917.
Address: 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G pic.twitter.com/tEPqM0CrrK
– Lookonchain (@lookonchain) May 6, 2024
A decade later, the value of Bitcoin has increased almost 70 times, based on the current price at which the user sold it for more than $42.7 million.
In April, large investors, who control at least 0.1% of the total Bitcoin supply, purchased 19,760 BTC for a total of $1.2 billion at an average purchase price of $62,500.
Bitcoin whales may have finally started buying the dip👇
Yesterday, the largest Bitcoin holders, holding more than 0.1% of the total supply, collectively added 19,760 Bitcoins to their holdings at an average price of $62,500. Historically, accumulations through these addresses have often… pic.twitter.com/c8K5uhkna4
-IntoTheBlock (@intotheblock) April 19, 2024
The accumulation of funds at these addresses often preceded an increase in the price of the first cryptocurrency. Bitcoin whales bought assets two days before the reduce by half.
Furthermore, Santiment stated that Bitcoin whales have accumulated an additional 266,000 BTC since the start of 2024, worth $17.3 billion.
Asset owners with balances between 1,000 BTC and 10,000 BTC received 1.24% of the total supply of 21 million BTC in the mentioned period.