Dormant Bitcoin Whale Moves $536 Million after 1700% Profit

Krutika Adani

Wakes up after 5 Years

A dormant Bitcoin whale has transferred $536 million after a deep slumber of 5 years since December 2018.

From Coinbase Cold Storage

The 8000 BTC were stored in a cold storage facility by Coinbase and were transferred to a Binance address.

Turned $30M to $536 Million

The whale had earlier received 8000 BTC in batches of 200 BTC valued then at $30 million. The appreciation in price was 1700% or 17x.

No Test Transactions Were Sent

The whale transferred entire 8000 BTC in a single transaction.

Other Dormant Whales Too Wake Up

The whale was not alone in waking up from a deep slumber. In May, at least $100 million worth of BTC were transferred by whales, some going back to even Nakamoto era.