Ancient Bitcoin Whale Comes Alive After Lying Low for Over 14 Years, Moves $469,811,057 in BTC at 30,00,000%+ Profit: On-Chain Data

A Bitcoin (BTC) whale wallet has resumed activity after lying low for approximately 14 and a half years, according to on-chain data.

According to blockchain tracking platform Lookonchain, the whale moved Bitcoin worth approximately $469.8 million after being dormant since the last transaction was conducted on January 15th of 2011.

Throughout that period, the price of Bitcoin has risen from approximately $0.393 to $118,561, a gain of at least 30,168,093%. The whale accumulated the Bitcoin over two days starting on January 13th of 2011.

Prior to moving the large Bitcoin stash, the whale carried out a test transaction for $218.

While the wallet was dormant for over 14 years, there were potential dusting attacks conducted on the address. Dusting attacks occur when minuscule amounts of Bitcoin are sent to a particular address to try to de-anonymize the wallet owner.

The awakening of the dormant wallet comes less than a month after two addresses made headlines by moving 80,000 BTC after being dormant since April of 2011. At the time, Coinbase director Conor Grogan claimed that the addresses could have been recipients of Bitcoin stolen following a hack.

Earlier this week, crypto analytics platform Santiment said that Bitcoin whales holding over 1,000 BTC dropped minimally in a week amid a small drop in the price of BTC.

 

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