Mysterious Bitcoin Whale Reappears

U.Today reports that a dormant Bitcoin whale, inactive for 10.8 years, has resurfaced by transferring 100 BTC from address 17tdW8 to bc1qqy6.

Initially purchased 11 years ago for $91,940, the 100 BTC is now valued at approximately $6.12 million, yielding a stunning return of 6,656%. This equates to an annual return of 665.6% since 2014, highlighting the success of this long-term investor.

The reason for the sudden activity of this previously dormant wallet remains unclear. Possible explanations include the investor recalling their seed phrase or shifting funds to a new wallet standard better suited for small transactions, which is also compatible with SegWit and more future-proof.

Additionally, it’s noteworthy that this unknown investor chose to liquidate their Bitcoin holdings coinciding with the announcement of an HBO series about the mystery of Satoshi Nakamoto, set to reveal the true identity of Bitcoin’s creator on October 8. The significance of these simultaneous events is intriguing.

This article was originally published on U.Today