Another bitcoin whale has woken up from a long-term sleep: on Thursday, the 1H1Ab6 wallet moved 139 BTC to a new SegWit address.
The owner bought the coins in June 2011, spending approximately $2,250 on them. At the current price, their value is about $3.5 million. These bitcoins belong to the “ancient stock”, as analysts call tokens purchased at least 7 years ago.
Bitcoin Whales Are Highly Active
Recently, there has been a significant movement of “ancient bitcoins” in the market. Since the beginning of 2023, 3,200 coins have come out of hibernation, with 1,100 of them date back 2013 year. A couple of months ago, a Satoshi-era address transferred 412 BTC worth $9.6 million.
It is generally accepted that the activity of old wallets is not a good sign. This may mean that the owner will soon sell the coins he owns. However, in some cases, the holders simply move the BTC to other addresses and continue to “hod” them further.
Analysts at the Glassnode platform have found that the likelihood of old holders selling bitcoin is significantly reduced after 155 days. Moreover, a recent report showed that the amount of BTC held for a long time is growing by 100,000 per month.
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