A Bitcoin whale that has been inactive for over a decade recently made a significant move by transferring 687 BTC, equivalent to $43 million. The whale had received these Bitcoins back in January 2014 when the price of BTC was $917. The wallet address involved in this transaction is 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G.

Over the past ten years, the value of Bitcoin has skyrocketed, increasing almost 70 times from the initial purchase price. In April, large investors who hold a significant portion of Bitcoin’s total supply bought 19,760 BTC for $1.2 billion, with an average purchase price of $62,500.

Recent data shows that Bitcoin whales have been accumulating more BTC in 2024, with an additional 266,000 BTC worth $17.3 billion acquired since the beginning of the year. Owners with balances ranging from 1,000 BTC to 10,000 BTC now hold 1.24% of the total supply of 21 million BTC.

These strategic moves by Bitcoin whales often coincide with price increases in the cryptocurrency market. It is essential to keep an eye on such activities as they can provide valuable insights into market trends and potential price movements.

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