Bitcoin whales are awakening en masse after years of dormancy

Lately we have reported more often about whales, investors with huge assets in crypto, suddenly awakening. Now a new whale has woken up and this time it is a bitcoin (BTC) whale with assets in the tens of millions.

Bitcoin whale is getting rich while sleeping

Last weekend on Crypto Insiders you could read about a whale that bought a total of 1,037 bitcoin in 2012. At that time, one bitcoin token was still worth $4.92. The complete content of the wallet was then purchased for a total of $5,107. Eleven years later, the whale has decided to breathe new life into just over a thousand bitcoin.

On July 22, the tokens were moved to a new wallet. Then the tokens were worth $37.8 million. The bitcoin whale, who finally thought the time was right after eleven years, may have made a huge profit. In percentage terms, the bitcoin investor can appropriate a profit of 600,000%.

Dutch analyst Maartunn reported on July 23 on another whale awakening. This concerns an investor who had not touched 1,413 BTC in more than 10 years.

However, why these whales have now decided to move bitcoin cannot be said with certainty. The bitcoins have been moved to a new wallet, but what happens to the tokens next is not always clear. Usually it means that the investor intends to send the crypto to an exchange to sell it.

Story behind crypto wealth unknown

Still, the timing to sell now is somewhat unusual. If the investor had chosen to cash out his assets in crypto at the peak, he would have taken much more profit. At its highest was the bitcoin rate at $69,044. If he had sold his bitcoin then, it would have made him $71.6 million.

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It is often difficult for investors to estimate highlights. Who knows, he or she did not have access to the relevant wallet at all at the time. Sometimes access to a wallet is lost and then you are far from home. In very rare cases, access is regained, as may have been the case here.

Earlier there was one more much larger whale awake. Then it was not about bitcoin, but about ethereum (ETH). A whale with more than 61,000 ETH came back to life after eight years. The tokens were purchased for a total amount of $19,000. When the investor decided to resurface his ether, it was worth $116.9 million.

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