While Bitcoin rose above $27,000, a BTC wallet that had been dormant for about 6 years became active again.
PeckShield, a blockchain security company, announced in its post on its Twitter account that a Bitcoin whale that has been inactive for a long time has moved 2,100 BTC that has been idle for 6 years.
PeckShield announced that this whale has moved approximately $56.3 million worth of BTC at today's price to a new wallet, “1LGnp5…GgM”.
PeckShield said that this whale first acquired these Bitcoins on October 19, 2017, and they were worth approximately $11.8 million at the time.
“On October 19, 2017, the BTC address that received approximately 2,100 Bitcoins (then worth approximately $11.8 million) and had been dormant for 6 years moved these BTCs to a new address “1LGnp5…GgM.”
The current value of these BTCs is $56.3 million.”
#PeckShieldAlert A dormant #BTC address 13RLtG…PXs, which received ~2,100 $BTC (worth about $11.8M at the time of transfer) on October 19, 2017, moved its $BTC (now worth ~$56.3M) to a new address 1LGnp5…GgM. pic.twitter.com/rchpCTI1va
— PeckShieldAlert (@PeckShieldAlert) September 19, 2023
Although there are various reasons why a Bitcoin whale that has not traded for years may take action again, it is generally interpreted that taking action after a long time means that it will sell.
However, it seems possible that it is preparing for an action such as reinvestment other than sales.
*This is not investment advice.
