Major crypto transaction monitoring service Whale Alert says that a mysterious Bitcoin whale, which has not been active for 10.8 years, has suddenly reappeared in the last few hours. Specifically, the previously inactive large holder has started showing activity by transferring 100 BTC from the old address “17tdW8” to the new address “bc1qqy6.”
Bought 11 years ago for just $91,940, this amount of cryptocurrency is now worth an incredible $6.12 million.
This is a great example of how well this long-term Bitcoin (BTC) investor has done, with a massive 6,656% return. If you look at the whole period since the start of 2014, you get 665.6% per year, which is a fantastic return.
💤 A dormant address containing 100 #BTC (6,113,890 USD) has just been activated after 10.8 years (worth 83,492 USD in 2014)!https://t.co/eDRDt2ZJ62
— Whale Alert (@whale_alert) October 4, 2024
It is not yet clear why the wallet, which had been inactive for so long, has suddenly started moving again. Maybe someone remembered their seed phrase. Or maybe it is because the unknown early investor was willing to transfer funds to the new standard wallet, which is better for smaller transactions, compatible with SegWit and more future-proof.
It is also worth noting that the unknown investor decided to cash out their Bitcoin holdings after the news broke about a new series from HBO about the mystery behind Satoshi Nakamoto, the enigmatic creator of cryptocurrency. The show is set to air on Oct. 8, in which the authors claim the true identity of Nakamoto will be revealed. If that will be the case remains to be seen, but the collision of events is remarkable.