A major Bitcoin investor, after a five and a half year hibernation, has decided to move 8,000 Bitcoin (BTC), worth $536.5 million.

The major investor’s cold wallet originally received the 8,000 Bitcoin via dozens of transfers on December 5, 2018, mainly in batches of 200 BTC. At the time, the Bitcoin price was approximately $3,750.

The whale sent the 8,000 BTC to BTC address “1ABww1…mCSKq” on block 847,490 on June 11, according to blockchain analytics firm Arkham Intelligence. Then that wallet transferred all the Bitcoin exactly one block and 11 minutes later to the Binance deposit address “15u4H…rMsLa”. It is striking that no test transactions were carried out beforehand.

While it is not clear whether the owner of the large amount of BTC has decided to sell his stock, at the time of the recent transfer the investor has achieved an ROI of almost 1,700% compared to the purchase price of $3,750 on December 5, 2018.

Dormant addresses with large holdings that suddenly become active could indicate a sale, especially if they transfer their stock to cryptocurrency exchanges. However, after that it is virtually impossible to be sure that they have sold.

While it’s more common for a dormant Bitcoin wallet to wake up, nearly 1.8 million Bitcoin addresses have been inactive for more than a decade, according to an April 24 report from Chainalysis and Fortune. These wallets, excluding Nakamoto’s wallet, represent $121 billion worth of Bitcoin at current prices.

However, many of these wallet owners have lost or forgotten the passwords and/or recovery phrases needed to access their Bitcoin, so it’s not clear how much of this can be recovered. It is therefore always good to see that one of the many investors has become active again.

Source: https://cryptobenelux.com/2024/06/12/bitcoin-whale-wordt-wakker-na-winterslaap-van-vijf-jaar-en-verplaatst-8-000-btc/

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