Bitcoin whale transfers nearly $40 million after decade of dormancy

Quick Take

  • One bitcoin whale has woken up after more than 10 years of inactivity.
  • It transferred more than 1,400 coins to a new address.

A wallet holding a large bitcoin sum transferred its 1,432.93 bitcoins — worth $37.8 million — to a new address after more than 10 years of inactivity.

The address initially received bitcoin on April 9, 2013, when the price was only $195.40 per coin, on-chain analyst Lookonchain noted.

tradingview chart showing the price of btc against usd on Coinbase over the past week

The price of bitcoin is down more than 3% on Coinbase over the past week. Source: TradingView

This latest transfer follows a slew of similar movements over recent months.

On April 24, a bitcoin whale address that hadn't been active for 12 years transferred nearly $11 million in bitcoin to another address. That movement came only days after another whale address transferred nearly $61 million in bitcoin after nine years of inactivity and a separate wallet transferred 279 bitcoins after ten years.

Also on April 24, an Ethereum address that participated in the project's initial coin offering woke up after 7.7 years of dormancy and transferred a single ether.

This story has been updated with additional context.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.