An inactive Bitcoin (BTC) holder who had kept the cryptocurrency untouched for nearly 13 years has just unloaded $29.75 million worth of the leading digital asset.
Whale Alert, a platform that monitors blockchain activities, was the first to detect this transaction. The historical address in question sent all 1,005 BTC it possessed to another wallet whose owner remains unidentified.
This particular whale initially received 1,000 Bitcoin back in November 2010, during a time when BTC’s value was a mere $0.225, according to data from BitInfoCharts. In April 2011, the same address acquired an additional 5 BTC, with Bitcoin trading at $1.31. As of the transfer that occurred on Monday, the value of the whale’s Bitcoin holdings had soared by an astonishing 12,848,100%.
Throughout the span of over 12 years, the wallet did receive tiny amounts of Bitcoin on multiple occasions. These small deposits may indicate dusting attacks, which involve malevolent actors sending negligible quantities of cryptocurrency (referred to as “dust”) to numerous personal wallets in an attempt to compromise the privacy of the wallet holders. However, it’s important to note that dusting attacks can also be carried out by researchers and law enforcement for legitimate purposes.
The resurgence of transactions from dormant wallets often captures media attention due to speculation that these holdings might belong to Bitcoin’s elusive creator, Satoshi Nakamoto. Analysts specializing in blockchain estimate that Nakamoto mined one million BTC, starting with the initial 50 BTC reward for mining the very first block on January 3rd, 2009. Notably, the last verifiable online sighting of Satoshi dates back to December 2010.
In addition to the aforementioned dormant wallet activity, other significant transactions involving Bitcoin whales took place on Monday. These transactions include:
- The transfer of 2,566 BTC, valued at nearly $75.5 million, from an unidentified wallet to Coinbase.
- A separate transaction involving 2,567 BTC, worth more than $75.5 million, moving from another unknown wallet to Coinbase.
- A transfer of 10,798 BTC, valued at over $317.7 million, moving from Gemini to an undisclosed wallet.
- Another significant transaction saw 3,201 BTC, worth more than $94.5 million, being moved from an unidentified wallet to Coinbase.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.