3 Dormant Bitcoin Whales Move $230M After 6-Year Sleep

This activity is part of a 2023 trend where long-dormant Bitcoin addresses, some over a decade old, are awakening and moving their holdings.
3 Dormant Bitcoin Whales Move $230M After 6-Year Sleep

Three dormant Bitcoin whale addresses, originating from the early days of the cryptocurrency, moved a total of 6,500 BTC, valued at approximately $230 million, on November 2.

These addresses had remained inactive since November 2017, missing out on Bitcoin’s meteoric rise. The first address transferred 2,550 BTC (about $90 million), the second address moved around 2,000 BTC ($71 million), and the third one transferred roughly 1,950 BTC ($69 million).

Most of the Bitcoin in these wallets was acquired in July 2011, likely through early mining, and was associated with F2Pool. While it’s unclear if these wallets belong to the same entity, their transaction history suggests a connection.

This activity follows a trend in 2023, where long-dormant Bitcoin addresses, some more than a decade old, have been awakening and transferring their holdings.

Also Read: Dormant Bitcoin Whale Awakens With $56M Transfer

This development occurred shortly after Bitcoin reached a new yearly high above $35,000, highlighting the enduring interest in this pioneering cryptocurrency.

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