The cryptocurrency industry is filled with a wide range of investors, from retail to institutions. Among these, addresses who make big purchases, also known as whales, hold immense power.
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Dormant Bitcoin Whales Resurface
Old Bitcoin (BTC) whales have been seen surfacing once again. These dormant addresses were making big moves after staying still for over a decade. More recently, a whale that had been inactive for over 10.8 years was seen making headlines.
WhaleAlert Brings Unusual Transaction To Light
WhaleAlert, a prominent large transaction tracking platform, brought an unusual transaction to light. A Bitcoin whale that hasn’t been seen in 10.8 years has returned out of nowhere in the last few hours. The whale, who had not been active before, has begun to do so by moving 100 BTC from the old address “17tdW8” to the new address “bc1qqy6.”
Staggering Returns On Investment
The whale reportedly made this purchase about 11 years ago for about $91,940 and is now valued at an astounding $6.12 million. This investor has managed to acquire a staggering 6,656% return over the years. At press time, Bitcoin was trading at $61,402.36 following a daily increase of 1.60%.
Also Read: Ethereum Whale Sells $11.7 Million ETH As Price Dips 10%
Timing Of The Transaction
In addition, the news of this transaction comes at a rather odd time. The whales became active and moved their respective BTC holdings right after news regarding Satoshi Nakamoto came to light.
Earlier today, HBO revealed that a new series about the anonymous Bitcoin founder would debut on October 8.
The identity of Nakamoto will reportedly be revealed in the episode. It remains to be seen if that will be the case, but the community was swift to identify how the timing of these events aligned.
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