Massive Amount Of ‘Sleeping’ Bitcoin Moved After More Than 11 Years In Hibernation

A large sum of money from a “Sleeping” Bitcoin was transferred after being dormant for more than a decade. Since the crisis between Russia and Ukraine and heightened pessimism about the future of the global economy, cryptocurrency values have been volatile. On Thursday, bitcoin’s price surged to a high of $42,592, after a two-day low of $38,300. After a brief period of optimism, BTC’s value returned to the $38K mark late Thursday. Related Article | Billionaire Investor Says Crypto Outlook Is ‘Very Bullish’ For Bitcoin However, despite the market’s volatility, an old-school whale from 2010 opted to move a considerable amount of bitcoins. The term “whale” refers to any entity that has a considerable amount of tokens of a particular cryptocurrency. Bitcoin Roused From Deep Slumber A transfer of roughly 489.091 BTC valued at nearly $17 million from the bitcoin address “17QBW” has just been tracked. When the transaction was executed at block height 726,641 at 1:45 a.m., the blockchain parser Btcparser.com spotted it on March 10 (UTC). A total of 5,111 bitcoins were handled by the originating address from which the 1,000 BTC were sent between September 6, 2010, and July 12, 2011. Even though the 429 BTC spent on March 10, 2022 was initially received at the same time as the remaining 510.91 BTC, the owner waited more than a decade to transfer the 429 BTC, which was spent two ...