A long-dormant Bitcoin whale has stirred from its twelve-year slumber as the price of the cryptocurrency broke through the $71,000 mark and moved 159 BTC worth around $11.3 million out of its wallet.
The mysterious cryptocurrency whale, who amassed 749 BTC back in 2012 when the cryptocurrency was trading at around $11 for a total of $8,151, had been inactive for well over a decade, before making this transaction.
The transaction was first spotted by blockchain analysis service Lookonchain, and according to data from BitInfoCharts the whale is still holding onto $42.3 million worth of the flagship cryptocurrency.
The transaction comes just days after a Satoshi-era Bitcoin whale who has held their cryptocurrency since 2009 begun to sell their holdings, after it started mining the flagship cryptocurrency just five days after its first block was created.
The whale’s stash includes “Satoshi-era” coins, with the term referring to the period in which Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was still active in the community. Satoshi left the crypto space in December 2010.
The transaction also comes shortly after the Royal Government of Bhutan started depositing large amounts of BTC into leading cryptocurrency exchange Binance. The funds came from the wallet associated with its sovereign holding company Druk Holdings.
Druk Holdings has been accumulating BTC since 2011 through a cryptocurrency mining operation that has been mining between 55 and 75 BTC per week. The operation is powered by cheap, clean hydropower.
Arkham Intelligence’s data shows that Druk Holdings’ wallet has been active since early 2021 and the wallet has been accumulating since, with some minor outflows over time. Data also shows the company used cryptocurrency lending services to generate yield through its holdings.
Featured image via Pixabay.
