A recent surge in large-scale Bitcoin transactions has seen a dormant whale move nearly $40 billion worth of BTC after over 10 years of inactivity.
The transfer, which occurred on Sunday, May 11th at around 19:16 UTC, saw the funds move from a legacy wallet address '1KAA8GGhVjjUjVTz1HKAjCyGNzAKQd882j' to a newer SegWit-compatible address 'bc1qm6m6d33d02edr0k8yj9jgt027zl6dvx6thjrxy'. This significant transaction has raised questions about potential selling activity or transfers to cryptocurrency exchanges.
The wallet had remained untouched since November 2013, when the BTC was first accumulated. The owner held the coins through multiple crypto market cycles, including Bitcoin's historic rise above $100,000 in late 2024. However, the exact reason behind the sudden transfer remains unknown.