A Bitcoin whale, who has been silent for eight years, has suddenly become active again moving more than $148 million worth of BTC.
According to Blockchair.com, the address first received 2,207 BTC on October 7th, 2013, when that amount of Bitcoin was worth $282,264.
The BTC remained in the wallet until Wednesday when they were transferred to two other addresses. One address received 300 bitcoins, while the other received over 1900 bitcoins, valued at more than 524 times the original price in 2013.
In terms of fees, the $148.1 million transactions were processed for only 0.000219 BTC, equal to $14.69 at the time of execution.
The long-dormant sending whale wallet has received trace amounts of Bitcoin several times over the last eight years, though those transactions appear to be dusting attacks, where hackers and scammers send minuscule amounts of a cryptocurrency (dust) to a large number of personal wallets in an attempt to break the wallet holders’ privacy.
The crypto tracker Whale Alert first spotted the movement.
?????????? A dormant address containing 2,207 #BTC (150,512,129 USD) has just been activated after 8.1 years (worth 294,287 USD in 2013)!https://t.co/a6EPxBbXd5
— Whale Alert (@whale_alert) November 10, 2021
The mega transaction took place on the same day that Bitcoin hit a new all-time high of $69,044. BTC has since given back a chunk of its weekly gains, now sitting at $65,186.
Transactions from long-dormant wallets typically drum up media interest because they generate chatter speculating that the BTC could be owned by Bitcoin’s secretive creator, Satoshi Nakamoto.
Blockchain analysts estimate Nakamoto mined one million BTC, starting with the first 50 BTC reward for the genesis block on January 3rd, 2009. Nakamoto’s involvement with the Bitcoin project ended in mid-2011.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
