A Bitcoin wallet that has been dormant for almost 11 years has suddenly become active.
According to data provided by Lookonchain, the ancient whale in question transferred all 500 BTC in its wallet to another wallet after it became active. The total amount of this transaction for the whale was 30.4 million dollars.
According to the data, the whale wallet purchased all of the BTCs in question 10.7 years ago for 62 thousand dollars. On January 12, 2014, the date of the purchase, BTC price was trading at $124.
At the time of this writing, the Bitcoin price is trading at $61,300, which means that the whale has gained 500 times in 11 years.
It is not known exactly whether the whale wallet in question is a very patient investor or a person who managed to remember the wallet key after many years. In addition, it is not known whether the whale sent the BTCs he transferred out for sale or moved them to another cold wallet. Whale may have sold its assets via OTC method instead of central exchanges in order not to affect the market.
*This is not investment advice.