- Three dormant Bitcoin whale wallets moved a total of 30,000 BTC, valued at over $3 billion, after holding for 14 years.
- The wallets originally received the Bitcoin in April 2011, when the price was about $0.78 per coin.
- These transfers follow a recent pattern of long-term holders selling their assets for significant profits.
- Public companies have increased their Bitcoin holdings, now collectively owning nearly 3.97% of the total Bitcoin supply.
- Bitcoin’s price remains closely linked to equity market performance, with potential for further movement tied to investor demand.
On July 4, three large Bitcoin wallets, often referred to as whales, transferred approximately 30,000 Bitcoin (BTC)—worth over $3 billion—after remaining inactive for 14 years. The wallets first accumulated these coins in 2011, when Bitcoin traded for about $0.78 each.
One address, labeled “12tLs,” moved 10,000 BTC, representing over $1 billion. Two additional addresses, “bc1qm” and “1GcCK,” each transferred another 10,000 BTC, according to blockchain data shared by Lookonchain and BitinfoCharts. Over 14 years, these holdings increased in value by more than 13 million percent, based on TradingView data.
Some cryptocurrency traders monitor these whale movements because their large transactions can influence short-term Bitcoin prices. The new transfers add to a recent trend of early investors cashing out. Two weeks earlier, another Bitcoin holder realized almost $30 million in profit after holding their coins since 2013, turning a $60,000 investment into a return nearly 500 times higher, according to Cointelegraph.
While long-term holders are realizing profits, institutional demand appears strong. At least 255 public companies now collectively hold about 3.47 million BTC, or approximately 3.97% of the total supply. This figure is a significant increase from the 124 companies documented just weeks prior, as reported by BitcoinTreasuries.NET.
During the same period, the S&P 500 and Nasdaq stock indexes reached new all-time highs, supported by a positive U.S. jobs report. Ruslan Lienkha of YouHodler stated, “A decisive push above its current consolidation range could see BTC retesting and surpassing its previous all-time high in the near term.”
However, some analysts estimate Bitcoin’s price may remain below $112,000 without fresh influxes of retail buyers, according to Cointelegraph. Despite these mixed signals, historical performance shows continued interest from both early adopters and large institutions.
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