A large cryptocurrency owner suddenly lost 5000 bitcoins after 3 years of inactivity

According to the Arkham Intelligence analytical platform, on October 7, the cryptocurrency whale transferred 5,000 BTC to two new addresses. Online data shows that the whale sent the coins to two different addresses. The first one received 4000 BTC, and the second one received the remaining 1000 BTC.

The investor received 5000 BTC from the well-known Poolin mining pool on June 23, 2020. At that time, the price of bitcoin was about $ 9,700, and the total value of the transaction was about $ 48.5 million. Since 2020, the rate of the market leader has grown significantly: at the time of writing, BTC is trading at $ 27,500. Thus, the value of the transferred bitcoins amounted to about $ 137 million.

Recently, the market has seen a significant movement of «old bitcoins». Since the beginning of 2023, more than 10,000 coins have come out of hibernation, some of them dating back to 2012−2013. It is believed that the activity of old wallets is not a good sign. It may mean that the owner will soon sell the coins they own. However, in some cases, investors simply move BTC to other addresses and continue to use them.

Glassnode analysts have found that the probability of selling BTC significantly decreases after 155 days. Moreover, a recent report by the company showed that the number of BTC held for a long time is growing by 100,000 per month.

In early January, a bitcoin wallet that had not been active for almost four years suddenly moved about $ 250 million in cryptocurrency to another unknown BTC address. And in February, a BTC wallet that had been inactive for 11 years withdrew 412.12 BTC, leaving only 0.11 BTC on the account. A similar situation occurred in April: a bitcoin address that had been inactive for 9 years suddenly came out of hibernation. The owner of the wallet made a number of small transactions and one large-scale transaction of 6071 BTC.