Awakening from Sleep: Early Miners Move Millions After Years of Silence
The wallet, which holds 1,215 BTC worth around $77 million, had been inactive since 2014 before resuming activity three weeks ago. The wallet made three separate transfers of 10 BTC each to Kraken, indicating increased interest in the market.
What makes this story even more astonishing is that this Bitcoin whale mined just a month after the Bitcoin network began, in February and March 2009. Such early involvement suggests that this wallet was one of the first Bitcoin miners, making the unexpected increase in activity even more remarkable.
Not an Isolated Case: Other Bitcoin Whales Are Also Waking Up
This is not a unique incident but is part of a recent pattern of long-dormant Bitcoin wallets being reactivated. For example, as we noted earlier, another wallet with 81 BTC became active after being dormant for 10.9 years.
Back in 2013, this address’ holdings were worth just $44,707, but its value has since skyrocketed, showing Bitcoin’s massive growth over time. These reactivation incidents show how early adopters, who had seemingly abandoned their Bitcoin holdings, suddenly returned to the market, perhaps to profit from their investment.
Older Bitcoin Whales Are Also On The Move
Furthermore, a report by CNF highlights two other Bitcoin wallets that have resurfaced after 15 years of inactivity. These wallets transferred a total of 100 BTC, worth around $6.24 million. This adds to the idea that many early Bitcoin holders, who have been holding onto their investments for years, are finally taking action.