Inactive BTC whale transfers $8M worth Bitcoin After 10 years Inactivity

[worle1bm]

There aee many whales who holds huge number of bitcoins but their wallets are dormant for long time and if you keep record of these transactions you would notice it's not new as many times they move funds from one wallet to another but saying why they were inactive during peak time is hard or maybe they didn't want to sell at that time so who knows.As others said maybe they got access back to their wallets so anything could be possible on which we should not be a worried a lot.

[Flexystar]

Who would know? Your guess is as good as mine. It's possible that the owner has finally just gained access to it. Or he/she finally decided to move the funds to a much safer storage, or perhaps even sell them.

But this isn't new. Every once in a while there's a dormant wallet that suddenly becomes active after a decade or even more. I think it was last year when a wallet containing hundreds of Bitcoin suddenly woke up after 11 years. The last time the wallet was active was when Satoshi was still active.

I think there are endless possibilities for this. He may not intended to sell them even at the 2021 or 2017 prices, and we can award him a true holders trophy. I mean imagine, seeing the prices soaring and he was almost a billionaire by that time. The intentions seem way different than that, his hunger is far more than that and most importantly he has almost unbeatable trust in bitcoin for sure.

I think these groups will keep tracking where further the bitcoins are getting moved. If it hits the exchanger's destination address then we can claim that he might have needed those funds and just sold them.

What about the stolen case?
Is there a possibility that hackers are trying out their "luck" over dormant wallets such as this one?
Though it's next to impossible to brut force wallets, that's why I added the word luck.

[yazher]

He might have serious reasons why he doing this because it is unusual to move such a huge amount of BTC after a decade, I think most probably right now he needed some money or just wanted to keep it in a different wallet. There is some tendency that someone to get it from him and decided to steal it. anything has a possibility here and one thing we need to take a lesson from this, is we really need to know how to slowly move our BTC if we have that huge amount because moving it at once will lure all eyes on us and might gonna get us in trouble if we don't take care.

[Ale88]

Someone just got out of prison after 10 years and then cash out his stash, Lol.

But who knows, your guess is as good as mine, maybe he just stumbled upon a old laptop and then see the private key and mnemonic phrase. And that is a long HODL though and it's just surprising that someone will suddenly move it when we are not even in the bull run.

The prison scenario seems like one of the more-likely ones to me. There are 100 other possibilites, from someone finding an old harddrive with the keys to being in need of some quick cash-flow for an unexpected reason.
However 280 BTC isn't a massive amount that would have any huge impact on the market at all.
Also, regarding your question about cashing out in the current market situation: I don't think the market is THAT bad right now, it's still up over 75% from recent lows, so if you know you need the cash within the next 6 - 12 months, now seems like a reasonable time to cash-out (even though I think going doller-cost-average over a period of a few months is usuall the better way).

Considering that 10 years ago bitcoin was used a lot to buy, how can I say, not exactly legal products, the prison theory makes sense. Another one is that maybe the guy is giving some bitcoin to a member of his family for whatever reason: buying a house, kid turning 18, wedding, or some other big life event like those. It doesn't necessarily mean those bitcoin are going to be sold.

Last thing, had I owned 1000+ bitcoin I would have split them a long time ago, you never know what could happen, I wouldn't feel safe having them all in one wallet.

[Yatsan]

How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?

Ref:
https://twitter.com/lookonchain/status/1649387289745977344?s=19
https://decrypt.co/137493/bitcoin-whale-moves-nearly-8m-after-10-years-inactivity

He has plans for sure.
We can think of possibilities such as the wallet have been forgotten, or lost and just recently found, and such. Diversification as well could be a possibility but bottomline is, we won't know unless the individual would introduce him/herself discussing what will he do and answering our why's. Ten years is a long interval and what we should be emphasizing is the length of time a huge amount was held 'coz if I were him, I have probably sold it on previous ATHs 'coz no one would expect corrections or higher market values or simply jo one has full control of the market price movement right? We just have our own reasons from doing things whether it is against the norm or not.

[digaran]

And they say governments control and monitor our financial activities, we the people are worse than governments, such people are the same working for govs, some nosey individuals.😉

[Quidat]

Mysterious but true, an unknown Bitcoin whale transferred 278.88 ($8M) BTC from his 10-year inactive wallet to three different addresses on Friday after being completely inactive for the past 10 years.
He originally bought and held 1,128 bitcoins in a wallet in 2012 and 2013 when the price of bitcoin was $12 and $195 respectively, but suddenly became active after 10 years and removed 279 bitcoins.

Here's it transferred explorers..
https://bitinfocharts.com/bitcoin/address/12At4GGP8J5p4MtdjNy1SPSkqKEM1mw2FS

How come a holder did not transfer his bitcoins after being inactive for ten years i.e. in 2021 when the price of bitcoins peaked, but in today's down market why did he transfer his bitcoins?

Having questions about;

Why he didnt sell on peak?
Why he planned to make some action now on a bear market?

So there's possible reasons which i could make think of.
- Maybe he had that 10 year target or goal on which he would be making a selling or accessing his wallet after 10 years. Yes, there are people who do have strong will and discipline on
following up their goals and plans without having no doubt and on extreme manner.

-Maybe he had just recently remembered that he had purchased some Bitcoins wayback into those years and recently able to find out his keys? (No one knows)

These are the only possible reasons after a long time of inactivity. There's no way on finding out the actual reason considering those coins had been moving now
after a decade. It is really just that amazing to see on there are people who are really that diamond hands and now they've been cherishing out millions
of dollars just because of that patient that they had been trying out to resist to move those coins.

[Ozero]

Mysterious but true, an unknown Bitcoin whale transferred 278.88 ($8M) BTC from his 10-year inactive wallet to three different addresses on Friday after being completely inactive for the past 10 years.

There are lots of reasons as to why the sudden move of the 278.88 BTC from the inactive wallet to 3 different wallets but one of the reasons that comes into my mind is that the fund could have been kept as a kind of inheritance. Maybe, it is finally been splitted into 3 amongst the 3 beneficiaries or heirs.

If bitcoin wallets remain in the possession of their owners, sooner or later they begin to move. The fact that only a small part of the bitcoins is transferred, although in the amount of about eight million dollars, I think, means that this person will dispose of them after some time. If it is not urgent for him, then of course, it would be better to wait until the next Bitcoin halving, which is expected in 2024, when it reaches the highest price values.
But a very significant part of the bitcoin is lost, especially in the early years of its existence, when it was valued very little and its safety was neglected. The owner of this wallet is very lucky. Not many people have the patience to resist the temptation and cash out the coins for their needs.

[patrickus]

Perhaps some whales want to transfer their bitcoins to a safe place because of rumours on the dark net that someone has been cracking old btc paper wallets.

https://twitter.com/crypto_bitlord7/status/1650604763585585167

[AHOYBRAUSE]

Maybe he just found an old computer or paper wallet which was though to be lost or something and that das was a very lucky day to get access again.

I have seen the wildest stories on youtube about people going to some specialist to recover some long lost data or wallet just to get this pleasant surprise.

If this isn't the case then a big shout out to him to preise the hodl mentality for this long!!

With all these ups and downs, especially over the past 6 years, this truely is an achievement!