Bitcoin Price Surge Sparks Movement from Dormant Whales

Bitcoin's Price Surge

Bitcoin, the leading cryptocurrency, has recently experienced a notable price increase. Rising by 4% in just one day, Bitcoin's value surged from $68,430 to over $71,200. This marks the first time in four months that Bitcoin has crossed the $70,000 threshold, with the last occurrence recorded in June.

Samson Mow's Bullish Outlook

Samson Mow, CEO of JAN3 and a well-known Bitcoin advocate, has shared his optimistic views on Bitcoin's price movement. He believes that the current increase is merely the beginning of a larger upward trend. Mow has consistently predicted that Bitcoin could eventually reach $1 million, reinforcing his ultra-bullish stance.

Dormant Whales Spring Into Action

The rise in Bitcoin's price has coincided with activity from long-dormant Bitcoin wallets. A notable transaction involved a whale that had been inactive for 12 years. This wallet, containing 749 BTC, saw a transfer of 159 BTC to Binance, equating to $11.32 million. Originally acquired when Bitcoin was priced at $11, this holding's current value is $53.23 million.

Two other inactive wallets have also resurfaced. One wallet, holding 16 BTC, was last active in 2013 when its value was approximately $2,160. Now, its worth has skyrocketed to over $1 million. Another wallet from 2010, linked to the early days of Bitcoin, contained 28 BTC. Initially valued at less than $9, this holding is now worth nearly $2 million.

Continued Bitcoin Growth

Bitcoin's price growth has not been limited to a single day. Over the past week, Bitcoin has gained 7%, climbing from $66,500 to its current trading level of around $71,125. This consistent upward trajectory highlights the cryptocurrency's robust market performance and growing investor interest.