The Daily: Dormant bitcoin whale wakes up after 12-year slumber to 830x gains, Andre Cronje's Flying Tulip raises $200M, and more
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take
- A dormant bitcoin wallet holding $44 million in BTC moved its funds over the weekend after 12 years of inactivity.
- Andre Cronje’s new crypto project, Flying Tulip, has raised $200 million at a $1 billion fully diluted token valuation via a private seed funding round and plans to raise up to $800 million more through an FT public sale.
Happy Monday! Polymarket puts U.S. government shutdown odds above 65%, but BofA sees only minor fallout — a small GDP drag, muted market reaction, and limited impact on crypto compared to debt ceiling crises.
In today's newsletter, another bitcoin whale moves funds for the first time in 12 years, Andre Cronje's Flying Tulip raises $200 million, Swift confirms it is planning to integrate blockchain into its infrastructure stack, and more.
Meanwhile, Strategy and BitMine reinforce their respective spots as the leading Bitcoin and Ethereum treasury holders.
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P.S. CryptoIQ is now available to everyone. Take the test for a chance to win $20,000!
Dormant bitcoin whale wakes up after 12-year slumber to 830x gains
A dormant bitcoin wallet holding $44 million in BTC moved its funds over the weekend after 12 years of inactivity.
Arkham data shows the whale transferred around 400 BTC, mostly in equal 15 BTC batches, completely emptying its wallet.
Lookonchain traced the funds back to miner rewards received 15 years ago, but the owner and motives for the sudden transfer remain unknown.
During the wallet's dormant period, bitcoin's price surged roughly 830x, from about $135 to $111,800 at the time of the transfers.
Multiple Satoshi-era wallets have emerged from decade-long dormancies in recent months as bitcoin rallied to new highs this year, and some OGs seemingly look to take profit.
Recent moves include Galaxy Digital selling 80,000 BTC for an investor's estate planning requirements and another whale rotating $5 billion in BTC into ETH.
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