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Another Satoshi-era wallet activated while the 3rd-largest whale keeps buying more Bitcoin

According to Whale Alert, on September 22, a Bitcoin wallet was activated after 8.8 years of inactivity. This wallet contains 400 BTC. Meanwhile, the third-largest BTC whale accumulates pieces of the fortune by acquiring it worth nearly $18 million.

Bitcoin whale activates with $17.6 million after 8.8 years

Back in 2012, this amount of BTC was worth $4,335. Now that amount has increased by 4,020 times and constitutes a large sum of over $17.6 million. Earlier this week, another inactive Bitcoin address was activated after going through 8.8 years of inactivity. That Bitcoin wallet contains 616 BTC worth $29,470,042. Back in 2012, those 616 BTC equivalent $6,667.

another-satoshi-era-wallet-activated-while-the-3rd-largest-whale-keeps-buying-more-btc

Source: Whale Alert

In 2021 a lot of inactive BTC wallets become activated. Previously, three more wallets returned to work in the first half of the year. They contain 791 BTC ($26,147,621), 5,000 BTC ($280,814,423) and 2,289.53 BTC (about $110 million).

Elsewhere, as AZCoin News reported, after buying 321 BTC two days ago, one of the biggest whales made another big purchase – this time for 408 BTC. As such, their total storage has grown to over 112,000 BTC, at least at this one address. This is the seventh purchase since BTC days above $50,000 earlier this month.

another-satoshi-era-wallet-activated-while-the-3rd-largest-whale-keeps-buying-more-bitcoin

 

Bitcoin Whale Address Behaviour | Source: Twitter

It seems that whales continue to accumulate coins as BTC bounces in the following hours. On-chain data shows that they made another significant purchase a few hours later. This time, the mysterious whale added 408 BTC. From a USD perspective, this purchase is worth just under $18 million.

As such, the total holdings of this one address have increased to 112,202.59 BTC. Keeping in mind the BTC price today against the dollar, that means the hoard is only worth $5 billion. It should be noted that this particular whale is one of the most active whales in terms of buying and selling, depending on BTC price movements.

Back in April, when cryptocurrencies rallied above $60,000, they sold significant portions of their entire holdings. After the asset dropped in value and bottomed below $30,000, whales resumed their buying move. They have bought about $170 million worth of BTC since dropping from $53,000 to less than $40,000.

another-satoshi-era-wallet-activated-while-the-3rd-largest-whale-keeps-buying-more-bitcoin

BTC/USD 4-hour chart | TradingView

At press time, Bitcoin is recovering from the bloody Chinese correction. The leading cryptocurrency has begun to recover from a significant price correction mainly caused by the liquidity problems of China’s Evergrande Group, the second-largest construction developer in China, with approximately two trillion yuan of debt.

Currently, the situation is improving, and Bitcoin is regaining its recent losses, also thanks to the news that the US Federal Reserve kept interest rates unchanged.

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