A mysterious Bitcoin (BTC) whale is on the move, changing the location of their multi-million-dollar crypto treasure after holding it for over a decade.
1,400 BTC Transfer!
Referring to new on-chain data, CryptoQuant CEO Ki Young Ju stated that over 1,400 BTC, worth more than $36 million, previously dormant, was sent to a Pay-to-Taproot (P2TR) address. The expert stated:
"The 1,400 BTC that has been dormant for 10 years has likely been moved to a P2TR address for more privacy."
P2TR is a type of transaction made possible by the Taproot soft fork upgrade in 2021, providing users with more privacy and flexibility by allowing them to spend their BTC in more complex output paths and script types. Since the beginning of 2023, many "old" Bitcoin wallets have been awakened from years of inactivity for unknown reasons.
Whales Are Waking Up!
In April, whale tracking service Whale Alert detected that a wallet that was last active on May 9, 2011, suddenly moved around 400 BTC worth approximately $10.9 million to another address after being dormant for almost 12 years. Additionally, just a few days prior to that, BTCparser, a blockchain monitoring tool, recorded two Bitcoin addresses that had accumulated Bitcoin stacks in 2009 and moved a total of 100 BTC within minutes.
The older of the two addresses was created on November 22, 2009, and sent 50 BTC to an unknown address. The other wallet was created on November 23, 2009, and sent slightly over 50 BTC to another unknown address. Meanwhile, the recent market activity in the cryptocurrency markets has brought investors' attention back to the leading cryptocurrency. Following the recent volatility, Bitcoin is trading at $25,740.
