Bitcoin (BTC) Whale, dormant for 14 years, makes a massive move..."Jumps from $10 to $51 million"

▲ Bitcoin (BTC), rise/ChatGPT generated image

Bitcoin (BTC) belonging to an early miner, dormant for 14 years, suddenly woke up and recorded an on-chain movement worth $51 million.

According to U.Today, a virtual asset media outlet, on September 22 (local time), 600 BTC was transferred to an external address from a wallet that had not moved since 2011. This marks the first activation in 14 years of a quantity mined in the early days when Bitcoin was only about $10 per coin.

On-chain data tracking platforms confirmed that this transfer originated from a single address created in 2011. The owner of the wallet split and sent 600 BTC to several new addresses, and there are no signs yet of direct deposits to large centralized exchanges. The asset's value, which was only a few thousand dollars 14 years ago, has now grown to approximately $51 million based on the current Bitcoin price.

The serial movement of early-era Bitcoin, which had been frozen for a long time, is attracting market attention. As Bitcoin recovered the $87,000 level and renewed its highest price in 8 months, there is an analysis that long-term holders' desire to realize profits may have been stimulated.

The activation of wallets belonging to veteran miners could act as a short-term supply burden and is considered a key indicator for derivatives and spot market traders. Attention is focused on whether the $51 million worth of split-transferred Bitcoin will lead to over-the-counter (OTC) transactions or exchange selling pressure, watching the on-chain fund flow.

[Key Summary of the Article]

-600 BTC, which had been frozen for 14 years since being mined in 2011, was split and transferred to new addresses.

-The value of 600 BTC, which was around $10 per coin, has now surged to approximately $51 million.

-As Bitcoin breaks past $87,000, the awakening of early supply is drawing attention to whether it will convert into selling pressure.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*