U.Today – A dormant Bitcoin (BTC) address that has been inactive for three years suddenly has about 5,000 Bitcoins (BTC), which is equivalent to about $140 million. As noted by PeckShield, a leading blockchain security company, the large transfer was split across three addresses.
h2 Dormant whales in action/h2 This is not the first time that a dormant Bitcoin address has come back to life in recent months. In August of this year, a Bitcoin address from the days of Bitcoin’s enigmatic founder Satoshi Nakamoto was published after almost 13 years of inactivity. The address transferred a whopping 1,005 BTC, worth about $29.7 million. Given the age of this address, it reignited speculation about its possible connection to Satoshi Nakamoto. However, experts were quick to advise caution and emphasize the unlikelihood of such claims.
In September, another dormant address was opened with approximately 2,100 BTC worth $56.3 million after almost six years of inactivity. The original deposit to this address occurred in October 2017, when the price of Bitcoin was significantly lower.
Likewise, in January, all 15,000 BTC from an address that had not seen any action for 3.5 years was delivered to an amount of almost $252.5 million at that point.
h2 Whales move, Bitcoin stabilizes/h2 When dormant Bitcoin addresses become active, they often trigger speculation. Theories suggest that the original holders are either cashing out based on Bitcoin’s estimated value, conducting estate planning, or redistributing their assets for greater security as part of advanced blockchain analysis.
Despite these significant transfers, Bitcoin price remains relatively stable and is currently at $27,931.81 with a minor change of 0.3%.
This article was originally published on U.Today
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