A mysterious Bitcoin (BTC) whale is on the move, abruptly shifting tens of millions of dollars worth of the crypto king, after holding onto it for more than a decade.
1,400 BTC Transfer!
CryptoQuant CEO Ki Young Ju, citing fresh on-chain data, disclosed that over $36 million worth of 1,400 BTC, previously in a dormant state, has been sent to a Pay-to-Taproot (P2TR) address. The expert commented:
1,400 BTC that has been idle for 10 years was likely moved to a P2TR address for greater privacy.
P2TR is a transaction type made possible with the 2021 Taproot soft-fork upgrade, which allows users to spend their BTC on more complex output paths and command sequences, enhancing privacy and flexibility. Since the beginning of 2023, many “old” Bitcoin wallets have awakened from years of inactivity for unknown reasons.
Whales Awake!
Meanwhile, in April, the whale monitoring service Whale Alert detected a wallet, last active on May 9, 2011, suddenly sending about $10.9 million worth of 400 BTC to another address after nearly 12 years of inactivity. Furthermore, just a few days prior, Blockchain monitoring tool BTCparser recorded two Bitcoin addresses that accumulated BTC stacks in 2009 and moved a total of 100 Bitcoins 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, created on November 23, 2009, sent slightly over 50 Bitcoin to another unknown address. On the other hand, recent market volatility in the crypto sector has once again drawn investor attention to the leading cryptocurrency. Bitcoin is currently trading at $25,740 following the latest volatile period.
