An enormous Bitcoin whale has been active again after a five-year hibernation, according to data given by Arkham Intelligence, which was released by the well-known Twitter/X account @BTC_Archive.

Arkham observed multiple transactions involving billions of Bitcoin in fiat currency.

Bitcoin sends billions of USD through reactivated wallet

The previously described on-chain data source has discovered multiple large transactions totaling $2 billion in Bitcoin. This wallet has woken up for the first time since 2019, according to a remark made to the screenshot by @BTC_Archive; before that, it had only completed one transaction since 2013.

when was the year when the enigmatic creator of Bitcoin, Satoshi Nakamoto, continued to cast a shadow, having merely vanished from view three years earlier.

The tweet about the woken BTC wallet was met with enthusiastic responses from Bitcoin users in the comments section. Who is responsible for these enormous Bitcoin transactions has long been a mystery. During the World Economic Forum in Davos in January, anti-Bitcoiner JP Morgan Chief Executive Jamie Dimon made a joke about a Twitter user joking that it was Satoshi awakened to expand the current Bitcoin 21 million supply. In addition, Dimon claimed that, in comparison to other digital currencies, Bitcoin is a "pet rock," a blockchain that serves no use.

Following that, a number of well-known Bitcoin supporters, such as Samson Mow, Michael Saylor, and whistleblower Edward Snowden, reacted to it by criticizing Dimon for his jabs at the cryptocurrency.

largest Bitcoin deal to occur in 2024

The biggest Bitcoin transaction of the year was observed on Wednesday, according to on-chain aggregator Santiment. It was made between 3:00 and 4:00 p.m. UTC and contained more than $665 million worth of Bitcoin (42,870 BTC).

Santiment went on to say that this transaction was the highest amount of hourly cryptocurrency movement in nearly six months.

A staggering 11,502 BTC (worth $497,417,265 according to the Whale Alert cryptocurrency tracker) were also moved to Coinbase, the biggest cryptocurrency exchange in the United States, yesterday.

Digital gold has now dropped to $42,361 after losing almost 2.5% of its value in the last two days. Since the SEC approved spot-based Bitcoin ETFs last Thursday, the most popular cryptocurrency worldwide has decreased by 13.54%.