An anonymous Bitcoin (BTC) whale from the Satoshi era has woken up from 13.4 years of hibernation and made its first transaction, Whale Alert reports. The wallet with the address "1FoicoWy" has been inactive since June 17, 2011, when it received a 20 BTC portion of the 1,033.96 BTC transferred between two anonymous wallets, including 51 empty wallets, including "1FoicoWy".
This Bitcoin stash was stored there for 13.4 years, until yesterday, October 20, 2024, when it was suddenly activated by a transfer to another anonymous wallet, "3Eddvk".
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This is a new address with no previous transaction history, but it is not the final destination of those 20 BTC, as from there they were transferred to Bitstamp, a long-standing cryptocurrency exchange among the major cryptocurrency exchanges.
Conventional crypto wisdom holds that such transfers and the âsudden awakeningâ of old Bitcoin whales are rather bearish signs before a market sell-off. The logic is that old holders are resurrecting to make a profit. And there is something to make money on, as in the most recent case, when holding since 2011 gave investors a 411,696% return.
Most of the time, such transfers are not continued recently, as we saw in this case with Bitstamp. But this case itself proves that concerns about the behavior of old Bitcoin holders are well-founded. And this is just one of 51 recipients. What if 50 other wallets, each containing around 20 BTC, were activated and started sending money to exchanges?
