Bitcoin whales awaken from a 14-year slumber, moving over $2 billion in BTC.
The transfers showed no signs of profit-driven activity.
Two cryptocurrency wallets moved 20,000 BTC, valued at over $2 billion, to new addresses.
The coins were originally received in 2011, when the price of Bitcoin was $0.78, and now yield a return of 140,000 times.
On Friday morning, two wallets, labeled "12tLs...xj2me" and "1KbrS...AWJYm", transferred 20,000 BTC, worth over $2 billion, to new addresses. These flows were first detected by blockchain researcher Whale Alert and later by Lookonchain. The addresses received these coins on April 3, 2011, when the price of Bitcoin was around $0.78.
Today, BTC exceeds $109,000, implying an astonishing profitability of 140,000 times for the two whale addresses, indicating they have a strong incentive to liquidate their holdings. Many long-term holders have been selling their coins since BTC surpassed $100,000 in May.
That said, the latest transfers were made to addresses not belonging to exchanges, which have remained silent since receiving these coins. Therefore, it is premature to conclude that the transfer operation seeks to make a profit.
