Bitcoin whale moved $43m in BTC for 1st time in 10 years

May 6, 2024 at 3:33 pm

Edited by Brian Stone

News

Bitcoin whale moved $43m in BTC for 1st time in 10 years

A Bitcoin whale that has been dormant for over 10 years moved 687 BTC worth $43 million.

According to Lookonchain data, the whale received 687.33 Bitcoins (BTC) on Jan. 12, 2014, valued at around $630,000 at the time when BTC’s price was $917.

A wallet that has been dormant for 10.3 years transferred all 687.33 $BTC($43.94M) out 10 mins ago.

The whale received 687.33 $BTC($630K at that time) on Jan 12, 2014, when the price was $917.

Address: 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G pic.twitter.com/tEPqM0CrrK
— Lookonchain (@lookonchain) May 6, 2024

A decade later, the value of Bitcoin has increased almost 70 times, based on the current price at which the user sold it for over $42.7 million.

In April, large investors, who control at least 0.1% of the total supply of Bitcoin, purchased 19,760 BTC for a total of $1.2 billion at an average purchase price of $62,500.

Bitcoin whales may have finally started buying the dip👇

Yesterday, the biggest Bitcoin holders, holding over 0.1% of the total supply, collectively added 19,760 Bitcoins to their holdings at an average price of $62.5k. Historically, accumulations by these addresses have often… pic.twitter.com/c8K5uhkna4
— IntoTheBlock (@intotheblock) April 19, 2024

The funds accumulation at these addresses often preceded an increase in the price of the first cryptocurrency. Bitcoin whales purchased assets two days before the halving.

Additionally, Santiment stated that Bitcoin whales have accumulated an additional 266,000 BTC since the start of 2024 worth $17.3 billion.

Asset owners with balances between 1,000 BTC and 10,000 BTC received 1.24% of the total supply of 21 million BTC during the mentioned period.