According to data from on-chain data analysis platform Lookonchain, an anonymous wallet has just moved 1,432.93 Bitcoins – or nearly $40 million – to a new address at noon on June 8. This whale has been in hibernation for over 10 years.
It is known that this wallet received the above amount of Bitcoin on April 9, 2013. At that time, Bitcoin price was only about $195.4 but now this asset has increased by more than 13,400 times.
Many people commented that this move could be a harbinger of a major sell-off in the future while others joked that this person could sell off Bitcoin to get money to buy BRC-20 tokens.
Bitcoin whale is the term used to describe investors who hold large amounts of BTC so they have huge influence on this cryptocurrency and even the entire market. Of course, this is not the only Bitcoin wallet that has suddenly revived after a long time of hibernation. According to Lookonchain, another whale recently moved his entire funds from the Ethereum ICO to a single wallet.