Dormant Bitcoin Whale Suddenly Moves $250 Million, Here Are Potential Reasons
Whale address that has been quiet for long time suddenly awakens while BTC is anemic An old Bitcoin wallet that has not been active for almost four years suddenly moved around $250 million to another unknown Bitcoin address. The address that received the pondo now holds almost half a billion worth of BTC. At Bitcoin‘s all-time high, the old whale’s wallet was worth more than $1 billion. As conditions on the market aggravated, the whales portfolio lost a major part of its value. At the time of the transaction, only $250 million was left from what used to be a $1 billion wallet. An address “1KUr81” that has been dormant for 3.5 years transferred all 15,000 BTC ($252.5M) out to address “1LGAVQ” today. Now address “1LGAVQ” holds 26,056 $ BTC($ 439.2M) — Lookonchain (@lookonchain) Enero 6, 2023 Ang unang 15,000 BTC were received by the whale back in 2019 and transferred back to another wallet only now. Unfortunately, various blockchain explorers show no data about the whale, which is why we cannot determine if it is affiliated with any kind of exchange or an OTC trading desk. However, the behavior of the wallet shows it is either owned by a massive retail investor who has been holding