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Ancient Bitcoin Whales Suddenly Awaken After 10.7 Years with a Profit of 49,274.2%
Gamza Khanzadaev
After 10.7 Years of Dormancy, Two Bitcoin Whales Resurface with a Staggering Profit of 49,274.2%
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The calm of Sunday morning was interrupted when two sleepers Bitcoin (BTC) wallets, untouched for over a decade, have come to life, shaking the cryptocurrency market with their monumental activity.
Second GuardaonchainAccording to the latest findings, these wallets, inactive for exactly 10.7 years, quickly transferred their entire 1,000 BTC holdings, currently valued at a staggering $60.9 million, in just 20 minutes.
The wallets in question, identified as “16vRqA” and “1DUJuH,” received initial deposits of 500 BTC each in September 2013, when Bitcoin it was valued at a modest $124 per coin.
Fast forward to today, these addresses have witnessed a stunning increase in value, boasting an astronomical profit margin of 49,274.2%. In monetary terms, this translates to a staggering $60.8 million, equating to an astonishing $5.7 million in profit accrued annually for the past 11 years.
The sudden reactivation of these sleepers Bitcoin has sparked intense speculation within the cryptocurrency community. Many analysts believe such a move could signify a fundamental shift in market sentiment.
Bearish?
Interestingly, despite the significant profit margins, the owners of these wallets chose not to cash out via exchanges but rather opted to move their assets to undisclosed wallets, adding a layer of mystery to their motivations.
Historically, the emergence of long-dormant Bitcoin holders has often been interpreted as a bearish signal, suggesting a potential sell-off to lock in profits. However, the unique circumstances surrounding these ancient wallets leave the market anxiously awaiting their next move.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated in Finance and Credit with a specialization in securities and financial derivatives. He then obtained a master’s degree in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.