The fifth largest Bitcoin whale awakens after 5 years 🐳
An address holding 94,500 BTC has resurfaced after five years of inactivity, becoming the fifth largest Bitcoin holding globally. According to data from Arkham Intelligence, this wallet is currently worth $6.6 billion, having recently become active again
Back in 2019, the wallet received a significant amount of Bitcoin worth $6.6 billion at today's exchange rate, which remained untouched until recently. Over the weekend, the Bitcoin in this wallet was divided and transferred to a new address. Currently, the original wallet only contains 1.4 Bitcoins, while the rest is spread across three wallets, of which one contains $5 billion worth of Bitcoins.
The wallet owner splits the Bitcoin into two parts, sends one intact part to the new wallet, and further divides the remaining part to two additional wallets. This action changed back 94,500 BTC, making the wallet owner one of the top Bitcoin holders globally.
Miguel Morel, CEO of Arkham, noted that while most major Bitcoin holding wallets are involved in restructuring or exchanges, this particular wallet has minimal trading activity and no have any relationship with any exchange.
This movement in Bitcoin is significant because it marks the first major activity by an individual wallet recently. Previous movements include an anonymous wallet sending 27 BTC to Satoshi Nakamoto's address in January 2024, and three other dormant wallets going live in November 2023, transferring approximately 7,000 BTC to Bitfinex.
Despite this activity, the Bitcoin market has yet to see a significant price impact, with Bitcoin trading at around 70.000 USD.