Two long-dormant Bitcoin holders have recently made significant moves, transferring tens of millions of dollars in BTC after more than a decade of inactivity.

Data from Whale Alert, which monitors large cryptocurrency transactions, indicated the sudden activity from an old Bitcoin wallet that had been dormant for 10.6 years. The wallet moved 1,004 BTC, valued at $56.92 million, initially transferring them to an undisclosed wallet before further relocation to another unidentified wallet where the Bitcoins now reside.

According to Bitinfocharts, this savvy investor originally acquired the BTC stash in 2013 and 2014, spending over $1.132 million when Bitcoin traded below $800. The current value reflects astonishing gains of more than 4,920% over a decade.

In a similar instance, Whale Alert also observed another early Bitcoin adopter moving 20 BTC, worth $1.41 million, after 11 years of dormancy. The Bitcoin was first sent to an unknown wallet and subsequently transferred to another undisclosed wallet.

Bitinfocharts data revealed that this holder spent a mere $1,676 to accumulate the Bitcoin in July 2013, when BTC was priced around $80. The current value represents staggering gains of nearly 68,000% over the same dormant period.

Notably, neither Bitcoin transaction involved known cryptocurrency exchange addresses, suggesting they were not intended for immediate sale on the open market.

As of the latest update, Bitcoin’s price stands at $57,700, marking a more than 2% increase in the past day.

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[Image: Midjourney]

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