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Satoshi-era Bitcoin Whale Suddenly Wakes Up With 400,179% Profit
Gamza Khanzadaev
The Satoshi-era Bitcoin whale has resurfaced, revealing a staggering 400,179% profit
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A dormant Bitcoin address containing 48 BTC, valued at $2.57 million, was activated today after 13 years of inactivity, according to reports Whale alertThis address originally received these coins when the price of Bitcoin was just $13.7 per BTC, representing an astonishing gain of 400,179%.
The reactivation of long-dormant addresses usually triggers bearish sentiment among market participants. It often suggests that holders are preparing to liquidate their assets, potentially flooding the market with significant amounts of Bitcoin and increasing selling pressure.
This month has seen a revival of decades-old wallets, with today’s event part of a larger pattern. Recently, U.Today reported another dormant address activation containing approximately $8 million in BTCAdditionally, last week two addresses containing over $2 million each were reactivated after long periods of inactivity.
These movements are particularly noteworthy given the current state of the cryptocurrency market. Bitcoin Price continues to trade at its lowest levels in months, recently hitting $54,300, a level not seen since late April.
In a recent case, the unknown whale, after 13 years of inactivity, transferred 1,949 BTC, equivalent to $111,450, to a new address, labeled “bc1q6p”. Another BTC was sent to another new address, “3J4Ng”. It is expected that the investor will further distribute his Bitcoin savings through these new addresses.
Source: Arkham Intelligence
The whale’s use of different Bitcoin address formats is also interesting. Traditional addresses start with “1”, multisignature addresses start with “3”, and SegWit addresses start with “bc1”. These formats offer varying levels of security and transaction efficiency.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated with a degree in finance and credit with a focus on securities and financial derivatives. He then completed a master’s degree in banking and asset management.
He wants to contribute to the discussion of economic and fintech topics, as well as inform more people about cryptocurrencies and blockchain.