Dormant Bitcoin Whale Awakens After 11 Years, Moves $257M Worth Of BTC: ‘This Event Has Only Occurred Once Before…’

A dormant whale resurfaced after 11 years on Tuesday, moving over $250 million worth of Bitcoin (CRYPTO: BTC).

What Happened: According to the on-chain tracking platform Lookonchain, the investor suddenly became active, moving 2,700 BTCs to a new address. The total value of the transferred Bitcoin was estimated to be $257.45 million.

The whale received the stash on Dec. 21, 2013, when Bitcoin was priced at $625.84 per unit. If the transferred amount was intended to be sold, the whale would make a profit of around $255.786 million, representing a staggering 15135.8% return.

Full story available on Benzinga.com