Another long-dormant Bitcoin whale moved part of its holdings Thursday, transferring 137.03 BTC—roughly $16 million—from a wallet that held 444.81 BTC since 2012. Blockchain records show the coins were first bought when BTC traded near $12 each, meaning the stash sat untouched for about 13 years.
Movements by long-term holders have picked up this year. In July, a separate whale sold more than 80,000 BTC after holding it for 14 years. While analysts often define a whale as an entity holding at least 1,000 BTC, the term is commonly used for any large holder whose transfers can affect sentiment.
Industry voices say such wake-ups are rarely random. Doug Colkitt, an early blockchain contributor, says early whales don’t move coins unless they see opportunity or risk. Jeff Dorman, CIO at Arca, suggested some dormant coins may be reactivated to support newly formed digital-asset treasuries—potentially as in-kind contributions to corporate holdings.
For markets, the effect can be outsized. Traders often front-run perceived sell pressure when a decade-old wallet moves, even if the coins aren’t sent to exchanges. That fear alone can swing prices. At the time of reporting, BTC was trading near $115,000, up about 1% over 24 hours and 4% over the week, and below last month’s all-time high above $124,000.
Risk note: Large on-chain transfers can increase short-term volatility and spur speculative trading. Investors should weigh holdings, horizon, and risk tolerance before reacting to whale activity.
Source: Decrypt. Read the original coverage for full details.