Dormant Bitcoin Whale Stirs After 13 Years, Moves $50M Hoard

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A cryptocurrency wallet holding 444.81 BTC, worth over $50 million, has awoken after 13 years of inactivity. On Thursday morning, the entity transferred 137.03 BTC ($15.6 million), sending a portion to a deposit address associated with the Kraken exchange.

The wallet originally received the bitcoin on November 26, 2012, when its entire balance was worth just $5,437 and BTC traded at $12.22.

The value of the moved coins has since appreciated by over 9,300 times. While the owner’s identity and motives are unknown, the transfer to an exchange often signals an intent to sell.