Fifth Largest Bitcoin Whale Awakens After 5 Years 🐳
An address holding 94,500 BTC has re-emerged after five years of dormancy, making it the fifth-largest Bitcoin holder globally. According to data from Arkham Intelligence, this wallet, now worth $6.6 billion USD, recently became active again.
Back in 2019, this wallet received a substantial amount of Bitcoin valued at $6.6 billion USD at today's rates, which remained untouched until recently. Over the weekend, the Bitcoin in this wallet was split and transferred to new addresses. Currently, the original wallet holds only 1.4 Bitcoins, while the rest is spread across three wallets, with one containing $5 billion USD worth of Bitcoin.
The owner of the wallet split the Bitcoin into two portions, sending one intact to a new wallet and further dividing the other portion between two additional wallets. This action reshuffled the 94,500 BTC, making the wallet's owner one of the top Bitcoin holders globally.
Miguel Morel, CEO of Arkham, noted that while most large Bitcoin-holding wallets are associated with restructuring or exchanges, this particular wallet has minimal transaction activity and no ties to any exchange.
This movement of Bitcoin is significant as 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 becoming active in November 2023, transferring around 7,000 BTC to Bitfinex.
Despite this activity, the Bitcoin market has not seen a significant price impact, with Bitcoin trading around $70,000.
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