An ancient Bitcoin (BTC) whale from 2013 has unexpectedly resurfaced after more than 11 years, thanks to a report from Whale Alert. The wallet known as “12YJoU,” which was active until today, came to life for the first time since Sept. 17, 2013, by transferring 16,943 BTC, equivalent to $1.15 million at today’s prices, to a new unknown wallet.
Previously, this wallet had received this amount from Bitstamp, the world’s oldest crypto exchange, and at that time in 2013, this volume was valued at $2,160. Imagine, in just over 11 years, this unknown whale has managed to earn 53,118.47%. That is an average of 4,828% per year, something that few of the world’s best stock managers can do in one year, let alone 11.
💤 A dormant address containing 16 #BTC (1,147,359 USD) has just been activated after 11.1 years (worth 2,160 USD in 2013)!https://t.co/T6putWOrib
— Whale Alert (@whale_alert) October 27, 2024
However, this event can hardly be seen in a positive light because, while we congratulate an unknown investor for raising more than a million dollars, there is a significant risk that this awakening is caused by the need to cash out and sell overly profitable Bitcoin.
The awakening of the ancient Bitcoin whales is a trend of recent months, especially as the main cryptocurrency has already broken the previous price record and continues to circle around it, teasing everyone expecting a new breakout.
The awakening of the whales, who are moving millions of dollars of BTC into the unknown, and in this case sitting on tens of thousands of percent in gains, could upset bulls’ plans. One would think that the more ancient Bitcoin whales are awakened, the fewer will remain in the dark, but it can be extremely difficult to understand just how deep the well is.
