A Bitcoin whale that had been inactive for more than six years moved all 999.953 BTC, worth approximately $78.12 million, out of its wallet.
On Nov. 2, on-chain analytics platform Lookonchain reported that the long-inactive wallet had become active again. What stands out about the transfer of approximately 1,000 BTC is not only its size, but also that the entire balance was moved after more than six years of silence.
The Bitcoin had entered the wallet when its price was $10,727
The Bitcoin that was moved had arrived in the same wallet more than six years ago. At the time, Bitcoin was trading at $10,727. At that price, the balance had a market value of approximately $10.73 million.
Compared with the $78.12 million valuation Lookonchain gave for the transfer, the dollar value of the same amount of Bitcoin has risen approximately 7.3-fold. This comparison is based on the market price when the Bitcoin entered the wallet; it does not show the owner’s purchase cost or realized profit.
The post did not specify the transfer’s destination or purpose. It is therefore not yet clear whether the move was a sale or a transfer between wallets.
Not investment advice.