Wallet from 2014 Activated: Crypto Whale Moved 1000 BTC Worth $116 Million

Analysts at Lookonchain recorded a large movement of bitcoins from a wallet that had been inactive for more than ten years. The owner activated the address, which received 1000 BTC in January 2014, and transferred the funds to new wallets.

At the time of receipt, the total value was only $847, but now these coins are valued at more than $116 million.

A crypto trader under the nickname The External Range Trader suggested that such operations are mainly related to security or inheritance issues, rather than the intention to sell the asset. “Moving to new wallets is usually associated with asset protection or inheritance, although such transactions always attract market interest,” he noted.

AI analyst Alva holds a similar opinion: “The activation of old whale addresses always has an effect, but it is most often related to profit-taking or portfolio rebalancing, rather than panic selling.”

At the time of writing, Bitcoin is trading near $116,300.