Old Bitcoin Rises, Whale Moves 121.63 BTC

Whale Bitcoin moved 121.63 BTC (Photo; Doc. Freepic)

JAKARTA - A bitcoin wallet that has been sleeping since 2017 has suddenly bounced back, moving 121.63 BTC worth around Rp122 billion on July 28, 2024. The detection of this movement was carried out by btcparser.com, and has been in the spotlight for more than seven years since this wallet was last active.

Initially, this wallet was created on April 9, 2017, when the price of bitcoin (BTC) was only around Rp. 17.8 million per coin. At that time, 121.63 BTC was worth around Rp. 2.16 billion. However, with the increase in BTC prices to Rp997 million per coin on July 28, 2024, the total value of bitcoin in this wallet jumped sharply to Rp122 billion, an increase of up to 5,617.94%.

According to Bitcoin.com News information, on Sunday, at a block height of 854,349 on the Bitcoin blockchain, there was a transfer from addresses that had been inactive for seven years and three months. This wallet uses Pay-to-Public-Key-Hash (P2PKH) transaction types and transfers funds in two transactions: 71.63 BTC and 50 BTC. The funds are then divided into several Bech32 or Pay-to-Witness-Public-Key-Hash (P2WPKH) wallets and are still there.

Not only one wallet, throughout July 2024, about 15 bitcoin wallets from the 2017 era also came back active after seven years of sleep. The total transfer from these wallets reached 529.04 BTC. Despite many wallets from 2017 experiencing difficult times at the end of the year and during the 2018-2019 period, the owners chose to stay until the price of BTC shot up in 2021. Now, they are moving their funds in 2024, when the price of BTC surpassed the previous highest peak.

However, the question that arises is: are these coins being sold or simply moved to a new address? Although there is no definite answer, this increase in activity shows that old wallet owners are increasingly active in managing their digital assets.