Bitcoin whale moves $116 million in BTC after 11-year dormancy
Quick Take
- A bitcoin whale transferred 1,000 BTC, worth about $116.6 million, for the first time since January 2014.
- The whale transferred the entire BTC holdings to four new addresses.
A dormant bitcoin whale woke up to move 1,000 BTC, worth roughly $116.6 million, for the first time in more than 11 years on Tuesday, according to onchain data.
Onchain analytics provider Lookonchain, citing Arkham data, reported that dormant bitcoin wallet "1NzH…DrtpZo" transferred all 1,000 BTC to four new addresses. The whale received 1,000 BTC in January 2014 when bitcoin was valued at around $847.
Arkham has not identified the ownership of the wallet or the associated new addresses.
Bitcoin traded up 1.3% in the past 24 hours at $116,637 as of 10:00 p.m. ET Tuesday, according to The Block's bitcoin price page. The world's largest cryptocurrency rose 4.8% in the past week.
OG bitcoin wallets have shown increased activity in recent months as the crypto market rallied. Last week, a wallet containing 445 BTC moved 132 BTC to a new address and sent 5 BTC to a Kraken wallet, ending nearly 13 years of dormancy.
In July, a Satoshi-era whale sold more than 80,000 BTC — worth over $9 billion at the time — through Galaxy Digital as part of the investor's estate planning strategy.
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