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Bitcoin whales have made headlines again as another stash of BTC has been moved after a decade of inactivity. The holder of the wallet, who had not touched their cryptocurrency since October 2012 and May 2013, has moved over 279 BTC, worth a staggering $7.8 million, to three new wallets. The blockchain tracker Lookonchain detected the move and tweeted about it on Friday.

The Bitcoin whale had originally received 1,128 BTC, but had kept it untouched for years until now. This brings the total value of their BTC holdings to an impressive $31.6 million. While it’s not uncommon for whales to emerge from their slumber to move their investments around, it’s always a spectacle when it happens.

In February of this year, another Bitcoin whale emerged from hibernation after 11 years of inactivity to move $9.6 million worth of the cryptocurrency. This particular wallet had appreciated by 120,000,000% over the years, making it one of the most lucrative investments ever made in the crypto world.

Research from the Bank for International Settlements has shown that Bitcoin whales tend to be the most successful crypto investors, as those who sit on the asset for years tend to do well. In contrast, retail investors who buy and sell in a short time frame typically lose out.

Furthermore, data from blockchain firm Arkham Intelligence suggests that Bitcoin investors are now focused on long-term gains. Over 53% of coins ever minted had not been moved for more than two years as of February this year. This indicates that many investors are holding onto their Bitcoin and waiting for the right time to sell.

Despite a recent dip in price, Bitcoin is still up massively this year, having gone from under $17,000 in January to $30,000 in the past week. While it’s still far below the all-time high of $69,045 reached in November 2021, many investors remain optimistic about its long-term prospects.

In conclusion, the resurfacing of an ancient Bitcoin whale is always an exciting event in the cryptocurrency world. This latest move of nearly $8 million worth of BTC is a testament to the power of holding onto investments for the long haul. With more and more investors focusing on long-term gains, it’s likely that we’ll see more Bitcoin whales emerge from hibernation in the years to come.