Last week, a dormant wallet containing approximately 80,000 BTC ($8.6 billion at the time) suddenly came to life. And Crypto Twitter lost its mind. The coins hadn’t moved since 2011 when Bitcoin was trading for less than $10. That’s a 700,000% return. Conspiracies swirled instantly. Is this a government or corporate seizure? Is Mt. Gox finally distributing the remaining BTC to former users? Did someone hack an OG wallet? Maybe…maybe. But probably not. Moreover, as of Tuesday morning, on-chain reports record the whale stash being deposited at @galaxyhq's trading desk. It looks like our ancient whale intends to sell at least a portion of the haul. (Click the reply to read the full piece)
900