Old Bitcoin whale moves $257 million

After being dormant for 11 years, a Bitcoin whale has awakened and is now worth $257 million.

With Bitcoin close to the symbolic $100,000 mark, more and more old players in the network are re-emerging. On Dec. 3, for example, a Bitcoin wallet that had been inactive for 11 years suddenly became active again.

According to analysis platform Lookonchain, the whale transferred about 2,700 BTC to two unknown wallets, with a total value of about $257 million. The original Bitcoin were received on Dec. 20, 2013, when the exchange rate was around $650.

From the transaction data appears that the anonymous user may have used a mixing service to hide traces. The transactions are increasingly split up, making them difficult to trace back.

Whether Bitcoin is ultimately intended for sale on an exchange remains unclear. In the current positive market sentiment, early Bitcoin adopters have regularly realized profits of millions of dollars in recent weeks.