Dormant Bitcoin (BTC) Whale Emerges as Coin Value Skyrockets by 17,000% Over 10 Years

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Over the past weekend, the cryptocurrency market experienced a significant recovery, with Bitcoin (BTC) momentarily surpassing the $65,000 mark before undergoing a correction.
During this period, a dormant Bitcoin whale, holding approximately $43.8 million worth of BTC, resurfaced after a decade of inactivity.
The whale’s activity was first identified by Whale Alert, a service that tracks large cryptocurrency transactions, sparking speculation about the owner’s motives on social media platforms.

Bitcoin’s recent surge has reawakened a dormant whale holding $43.8 million worth of the cryptocurrency, sparking speculation and highlighting the influence of large holders on the market.

Resurgence of a Bitcoin Whale

The Bitcoin whale in question moved funds from an address that had been inactive for over 10 years. This transaction was first detected by Whale Alert, a service that monitors large cryptocurrency transactions and shares the information on the microblogging platform X (formerly known as Twitter). The last recorded activity from this whale was in 2014, when Bitcoin was trading at approximately $360 per token. Since then, the value of Bitcoin has increased by over 17,000%.

Speculation Surrounding the Whale’s Activity

The sudden activity of this dormant Bitcoin whale has led to various speculations on social media. Some users found the activity suspicious, while others proposed imaginative theories, such as the possibility that the owner had recently been released from prison. It’s worth noting that during Bitcoin’s early days, many of its adopters were involved in darknet markets, using the cryptocurrency to buy and sell illicit goods.

Whale Activity and Market Influence

Large transactions by Bitcoin whales are closely monitored due to their potential to impact market prices. The transparency of the Bitcoin blockchain allows for easy tracking of these transactions. This recent activity comes at... Read the full article for FREE at COINOTAG!