A long-dormant Bitcoin whale wallet dating back roughly 12 years has resurfaced, transferring 450 BTC worth approximately $53.4 million. Data indicates the coins were originally acquired when Bitcoin traded near $0.375 each.
The funds were divided into three separate batches of 150 BTC each and sent to major cryptocurrency market makers: Coinbase, B2C2 Group, and Wintermute. This splitting strategy is commonly employed to prevent causing significant market price disruption during large transfers.
Movement from wallets dormant for such extended periods is closely watched and can significantly influence market sentiment. This reactivation could potentially signal bullish expectations or introduce short-term volatility, as inactive holders reassess positions.
Market makers play a key role by facilitating large over-the-counter (OTC) trades. Their participation helps absorb the liquidity impact of sizable transactions like this whale’s, mitigating potential slippage and stabilizing prices.
This event follows a broader pattern of significant activity among ancient Bitcoin wallets in recent months, including a much larger transfer of 80,000 BTC earlier.