Bitcoin whale moved COP 541 million in BTC after 5 years of HODL

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a whale moved 6522 bitcoin on Wednesday (16) after spending five years with those coins. Despite the momentum of the bear market, BTC was worth 75% less when it last moved.

The huge amount of BTC is equivalent to more than COP 588 million, according to the current price of COP 83,002,700 in Colombia. If it were busy at the all-time peak of November 2021, the value would be four times higher.

The transfer of this anonymous investor will be confirmed on the blockchain at block 763.474 and contained a mining fee of 0.00011684 BTC (approximately COP 970 at current exchange rates). This represents a rate of just 0.0000017%.

This same whale is very close to the address that acquired almost 10,000 bitcoins in 2011 and moved only in 2017. Proximity in the chain does not necessarily mean it is the same institution or individual, but it is a possibility.

If it were the same whale that acquired approximately 9,478.77 BTC in 2011, the bitcoiner could have bought the coins at around $2-3 per unit. That is, the long operation would have resulted in gains of approximately 1,189% over 11 years.

And this whale is not the only one that moves, “awakening sleeping bitcoins”. In the midst of the bear market that followed the FTX crash, some old coins have been waking up for some reason and moving to unknown wallets.

Just six days ago 3,500 bitcoins were transferred for the first time in 11 years through several smaller transactions and then consolidated (ie they probably haven’t been sold yet).

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