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Sujit Kumar
Dec 3, 2024
by Sujit Kumar

Dormant Bitcoin Whale Awakens After 10.9 Years Amid BTC Surge

Bitcoin Whales

Table of contents

  1. Optimistic Projections for Bitcoin’s Future
As Bitcoin (BTC) trades near its all-time high of $95,411.97, another dormant whale has resurfaced. According to Whale Alert, a Bitcoin wallet inactive for 10.9 years initiated two transactions, moving 50 BTC split across two transfers.

The wallet originally received the Bitcoin in 2014, when the price of one BTC was $880.60, making the stash worth $44,030. Today, the same 50 BTC is valued at $4.8 million, representing an astonishing return on investment (ROI) of 10,817%. Of the 50 BTC, 47 were sent to an unknown address, while 3 BTC went to a Coinbase wallet.

Growing Trend of Dormant Whales Awakening

The awakening of dormant Bitcoin whales has been increasingly frequent in recent months. While these movements can create short-term selling pressure, the overall bullish market sentiment has kept Bitcoin’s price momentum intact. With BTC up 0.78% in the last 24 hours, early investors are seizing opportunities to cash in on significant gains.

Optimistic Projections for Bitcoin’s Future

Despite Bitcoin's current highs, experts remain bullish about its long-term growth. Fundstrat’s Tom Lee predicts Bitcoin could reach $250,000 by 2025. Supporting this optimism, the FedWatch Tool indicates high expectations for another interest rate cut, which, combined with surging spot Bitcoin ETF inflows, could further fuel BTC’s upward trajectory.

As Bitcoin continues to break records, the actions of early adopters and dormant whales highlight the cryptocurrency's transformative potential and enduring appeal.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Dormant Bitcoin Whale Awakens After 10.9 Years Amid BTC Surge
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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