12-Year Dormant Bitcoin Whale Bags 654,192% Gains, Moves 749 BTC

A whale dormant for 12 years has awakened, shuffling some of its stash amidst Bitcoin’s surge past $71,000 on Tuesday.

Bitcoin surged to a four-month high above $71,000 on Monday, following a rebound from last week’s low of $65,468. Notably, the bullish uptrend attracted a multi-year dormant wallet, which made its first transaction in over a decade.

On Tuesday, Lookonchain pointed the crypto community to a peculiar on-chain transaction involving a Bitcoin millionaire. The crypto analytical firm noted that a wallet address that has been inert for 12 years moved $11 million worth of Bitcoin.

Transaction Details

Lookonchain cited data from BitInfoCharts, which revealed the fine details of the transaction. It noted that the multi-year dormant address moved 159.23 BTC on Tuesday, the wallet’s first transaction since moving 10 BTC worth $109 on November 10, 2012.

The transaction, which happened by 08:28 (UTC), saw the wallet shuffle the $11.32 million worth of Bitcoin to two new addresses. The whale transferred 124.23 BTC to address “19s9pQn” and 35 BTC to “3LmnNq.”

At the time of writing, the first address that received 124.23 BTC still holds the stash, while the other wallet has disbursed the 35 BTC over several wallets. Notably, the newly awakened wallet addresses still contained 590 BTC, valued at $42 million at the current market price.

Whale Bags 654,192% Gain

Meanwhile, the diamond-handed whale has made staggering returns following his admirable patience with the premier asset. The wallet bought its first Bitcoin on September 5, 2012, and increased its stash to 759.23 BTC four days later at an average price of $11 per coin.

After his first sales at a loss two months later, the wallet indulged in holding his stash. Twelve years later today, the wallet has turned its initial $8,303 investment to $53.3 million, accounting for a 654,192% appreciation.

Other Whale Re-awakenings

Notably, other multi-year dormant accounts have been reawakening to millions of dollars in profits as the market continues to see higher prices. For context, a 15-year dormant miner wallet moved 250 BTC last month, with his portfolio moving from nearly nothing in 2010 to $15.9 million.

Meanwhile, two other 11-year dormant wallets awakened in August and sold 276 BTC. The wallets sold their stash at a profit of 49,971%, underscoring the massive gains users can accrue for holding Bitcoin for a long time.