Enormous Bitcoin Whale Awakens After 8 Years Of Dormancy As Another Scoops Up $200 Million In BTC  ⋆ ZyCrypto

A Bitcoin whale wallet dating back to late 2016 woke up from dormancy after over eight years and moved 3,000 BTC in a single transaction. 

The reactivation coincides with a recent resurgence for the apex crypto. Bitcoin, the largest crypto by market cap, was trading at about $87,700 as of publication time, according to data provider CoinGecko.

Dormant Bitcoin Whale With $250 Million Suddenly Awakens

As BTC stages a relief rally on Tuesday amid talks of the upcoming U.S. tariffs, due on April 2, being narrower than originally feared, a whale that has been asleep for 8 years is waking up this week.

According to data from blockchain sleuth Arkham Intelligence, the whale has moved 3,000 Bitcoin, valued at $250 million at the time of the transfer.

“His Bitcoin stack went from $3M in early 2017 to over $250M today— and he’s held Bitcoin on one address for over 8 years,” Arkham wrote in a recent post on the X platform.

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The movement of BTC from very old wallets often sparks curiosity among crypto community members. In recent years, numerous dormant wallets have come out of hibernation only to transfer the BTC holdings to a new address. Some of these wallets were also discovered to have shifted their BTC stashes to crypto exchanges, suggesting they were looking to take profits after many years of HODLing.

Bitcoin Whales Continue Accumulation Spree

Meanwhile, a billionaire Bitcoin whale is adding to their stockpile.

Arkham pointed out in a different X post that the whale snatched up 2,400 BTC, worth approximately $200 million, on March 24. According to Arkham Intelligence, the whale in question started buying Bitcoin only five days ago after selling its cache in February when the asset’s price was hovering at around $100K and $86K.

Data from CoinGecko indicates that BTC was trading at around $104,000 on February 1 and plunged to $78K lows by the end of that month.

Another massive BTC holder, BlackRock, has also been adding to its Bitcoin stockpile over the last week as well. Per Arkham data, the world’s largest asset manager with $11 trillion in assets under management, bought a further 4,054 Bitcoin across 15 separate transactions, bringing its total holdings to 573,878 BTC, or over $50 billion.