The wallet holder with 2,995 BTC (~$82.8 million at the time of writing) moved the coins for the first time in six years. He distributed the amount across two new addresses.
A whale that had been dormant for 6 years transferred all 2,995 $BTC ($82.3M) to 2 new addresses 10 hours ago.
This whale received 3,200 $BTC ($1.47M) on May 7, 2016, when the price of $BTC was $459.https://t.co/aUvQnz7DwK pic.twitter.com/hNcET0ujKk
— Lookonchain (@lookonchain) October 10, 2023
According to Lookonchain, in May 2016 the Bitcoin whale received 3,200 BTC. The price of the cryptocurrency at that time was $458.7, and the value of the funds in the wallet was around $1.5 million.
In September 2017, the address owner transferred about 205 BTC from it. At that time the price of Bitcoin rose to $4,623, and the transaction amount totaled $13.8 million.
The remaining funds remained unmoved until October 9, 2023.
In June, ARK Invest analysts noted that the share of the first cryptocurrency that had not moved for more than a year reached a maximum at 70% of the total market supply.
Experts at Henley & Partners estimate that there are six Bitcoin billionaires in the world and another 22 holders of wealth over $1 billion with assets in various cryptocurrencies.