Major Bitcoin Whales Surface After Years, Shifting Over $2 Billion in BTC
In a significant movement, two cryptocurrency wallets transferred a staggering 20,000 BTC, valued at over $2 billion, to new addresses. This event has sparked curiosity among observers regarding future market actions.
What You Should Know:
- The coins were originally acquired in 2011 when each Bitcoin was priced at around 78 cents, translating to an incredible 140,000-fold return.
- The recent transactions showed no indications of profit-taking, which is common during such large-scale movements.
When a prominent whale in the Bitcoin ecosystem makes waves by shifting their holdings, it often prompts speculation about market volatility and potential declines.
Last Friday, the wallets identified as “12tLs…xj2me” and “1KbrS…AWJYm” completed the transfer, marking the returns for these early investors as exceptionally lucrative. The wallets had remained inactive since initially receiving the funds.
Current Bitcoin prices exceed $109,000, raising questions as multiple long-term holders are cashing out since BTC surpassed the $100,000 mark in May. However, the latest transfers went to non-trade wallets that have remained quiet since, leading analysts to hesitate in declaring the motives behind this movement.
BTC whales make big moves onchain
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