Wallets tied to bitcoin whale moves $1.26 billion worth of BTC after years of dormancy: Lookonchain

Three wallet addresses seemingly owned by the same bitcoin whale moved 10,603 BTC (worth around $1.26 billion) after years of dormancy, onchain analytics platform Lookonchain reported, citing Arkham Intelligence data.

Lookonchain said the three addresses all received bitcoin on Dec. 13, 2020 — when bitcoin was worth around $18,000 — in varying amounts of around 3,000 to 4,000 BTC. Two of the wallets remained dormant until Tuesday, while the third wallet moved 7 BTC three years ago across two transactions.

Late Tuesday night, the three addresses each transferred their entire bitcoin holdings to three separate unmarked addresses, ending years of inactivity. The newly received wallets have not moved the bitcoin since.

Although it's uncertain if the three wallets belong to a single individual or entity, Arkham data shows that they all interacted with a common address: "1CMbV…mMUZL."

Earlier this month, a Satoshi-era bitcoin whale moved over 80,000 BTC ($9.5 billion) after waking up for the first time since April 2011. The whale later moved the bitcoin to Galaxy Digital, where Lookonchain suggested that it may be preparing to sell its cryptocurrency holdings through the firm's OTC services.

Bitcoin whale movements came as bitcoin's extended rally in recent weeks, setting a high of above $123,000 earlier this month and continuing to trade in adjacent levels in the following period. 

According to The Block's bitcoin price page , the world's largest cryptocurrency rose 1.47% to $118,841.5 in the past 24 hours leading up to 12:35 a.m. on Wednesday.