Dormant Bitcoin Whale Moves $60M Worth of BTC After Nearly 12 Years

According to data provided by Spot On Chain, a dormant Bitcoin wallet woke up earlier today after nearly 12 years in order to transfer $60 million worth of Bitcoin to two wallets. 

The wallet initially received 1,000 coins in September 2012. Back then, Bitcoin was still an obscure project that had yet to break into the mainstream. It was trading at just a little over $12. 

The month of long-dormant whales 

Notably, a rather high number of ancient Bitcoin addresses has been activated during this month.  

For instance, two addresses containing a total of 50 Bitcoins were activated on July 12 after more than a decade of inactivity. 

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On July 8, an address containing 48 Bitcoins got activated after as many as 13 years. 

On July 6, another massive Bitcoin whale sprung back to life with 1,004 Bitcoins that were activated after more than a decade. 

So far, there have been two whale wallets with more than 1,000 Bitcoins that have been activated this month. 

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Such intense activity displayed by long-dormant whales this July is rather unusual. For comparison, only three transactions involving long-dormant Bitcoin whales were recorded by Whale Alert in April. In May, six such transactions took place. In June, the popular service for whale watching logged no activations of long-dormant wallets. 

Bitcoin's stunning recovery 

As reported by U.Today, the price of the leading cryptocurrency recently managed to reclaim the $62,000 level earlier today, reaching its highest level since early July.  

However, it is unlikely that the most recent transfer is related to the Bitcoin price spike.