Three Bitcoin whale addresses that have been dormant since November 2017 have recently transferred a significant amount of Bitcoin (BTC). The three addresses, which date back to the early stages of the Bitcoin network, moved a total of 6,500 BTC on November 2nd, with a value of approximately $230 million.
The first wallet moved 2,550 BTC, worth around $90 million, according to data from BitInfoCharts. The second address transferred approximately 2,000 BTC, valued at $71 million, while the third address moved around 1,950 BTC, worth $69 million.
What makes these three wallets even more notable is that their last transaction occurred almost six years ago, on November 5th, 2017. This means that they completely missed out on the Bitcoin bull run and the all-time high of over $69,000. Most of the Bitcoin in these wallets dates back to July 2011 and is linked to F2Pool, a Bitcoin mining pool. This suggests that the Bitcoin may have been accumulated through early mining activities. It is worth noting that the three wallets held BTC when it traded below $15.
While it is not confirmed whether these three wallets belong to the same individual or entity, the wallet history and transaction patterns indicate that this could be the case. The recent movement of Bitcoin whale addresses containing Bitcoin from the 2011 era comes just days after the BTC price reached a new yearly high above $35,000.
Interestingly, 2023 has witnessed several Bitcoin whales and addresses that have been dormant for over 10 years becoming active again and transferring BTC to new addresses. In July, a wallet that had been inactive for 11 years moved $30 million worth of BTC. Then, in August, a Satoshi-era wallet transferred 1,005 BTC to a new address. These instances highlight the potential reawakening of long-dormant Bitcoin addresses.
The movement of these Satoshi-era Bitcoin wallets has attracted significant attention within the cryptocurrency community. Many are speculating on the reasons behind these sudden transfers of previously dormant Bitcoin. Some believe that long-term holders are cashing in on their investments as the BTC price continues to climb, while others argue that these moves could potentially disrupt the market if a large amount of Bitcoin is suddenly sold.
Overall, the recent transfer of 6,500 BTC from three Satoshi-era Bitcoin whale addresses that had been dormant since 2017 demonstrates the evolving dynamics of the cryptocurrency market. The reawakening of long-dormant addresses and the potential impact on the market continues to be a topic of interest and speculation among cryptocurrency enthusiasts and investors.