After Over a Decade of Dormancy, BTC Whale Wallet Awakens and Transfers $31M in Bitcoin

After lying dormant for over ten years, a Bitcoin wallet suddenly sprung to life, orchestrating the transfer of over $30 million worth of BTC to another destination.

In mid-April 2012, when the main cryptocurrency’s value was less than $5, the whale acquired the stash.

In a fascinating discovery brought to light by Lookonchain, a reclusive and enigmatic crypto investor, known as the “mysterious whale,” emerged from an 11-year hibernation. Astonishingly, this mysterious figure recently moved assets valued at around $31 million, calculated at today’s prices, to a wallet identified by the abbreviation “bc1qt180.”

The remarkable event took place on July 22, leaving the crypto community in awe as they speculate about the motives and identity behind this long-dormant entity finally springing into action.

On April 11, 2012, someone received 1,037.42 BTC when its price was $4.92 each. Now, due to the increase in Bitcoin’s price over the years, that stash is worth 606,000% more.

A lot of Twitter users who responded to the post were confused by the whale’s behavior, and some speculated that it could be due to losing access to their private keys or facing a temporary hacking incident.

Some have proposed that the BTC investor had already missed the opportunity to re-engage with their holdings for a period of two years, citing the record-high price of bitcoin during that time.

According to a CryptoPotato report, an inactive whale reemerged after nine years in April this year. The whale made a transfer of 2,071.5 BTC to a new address, which was valued at over $60 million during the transaction. Interestingly, back in 2013, the same amount of BTC was worth just $1.3 million.