On October 29, a major bitcoin holder, inactive for 12 years, transferred part of their assets following the cryptocurrency’s price surge past $71,000. Analysts at Lookonchain noted this activity.
After the price of $BTC broke through $71,000, a whale with 749 $BTC($53.23M) woke up after 12 years of dormancy and transferred 159 $BTC($11.32M) out!
The whale accumulated 749 $BTC($8,151 at the time) in 2012 when the price was only $11.https://t.co/I98gM9YgSL pic.twitter.com/XPHMKp5gQP
— Lookonchain (@lookonchain) October 29, 2024
Out of 749 BTC ($53.23 million) stored in the wallet, the user withdrew 159 BTC ($11.32 million). At the time of receiving the coins in 2012, their assets were valued at $8,151 when bitcoin was priced at $11.
Earlier in October, a whale with a $1.3 million balance became active after a 13-year “hibernation.”