Elusive Bitcoin Whale Moves 1,000 Bitcoin From Decade-Old Wallets
A prominent bitcoin whale that emerged in 2021 has recently transferred 20 block rewards, equivalent to 1,000 bitcoins. This is not the whale’s first such activity; they have previously executed similar transactions on several occasions. The whale spent a total of 1,000 bitcoins from addresses created in 2010. Each wallet spent 50 bitcoins at block height 819,796. The activity was caught by btcparser.com and all 20 transfers can be viewed on their website. The whale’s addresses were created in August, September, October, and November of 2010.
Transfer of Funds and P2SH Address
When the transfer took place, the 1,000 bitcoins had a value of $41.87 million. The funds were once located in the address “35BRV” and were moved to a Pay-to-Script-Hash (P2SH) address, commonly used for multi-signature transactions. At the time of writing, the transferred bitcoins have been moved to another wallet after the initial transfer.
Consistent Pattern of Activity
There’s a strong possibility that this whale is the same early bitcoiner identified in 2020. The whale has consistently followed a pattern of spending 20 block rewards, consolidating them into a single P2SH address, and creating bitcoin addresses in August, September, October, and November of 2010. Between the end of 2020 and March 2021, the whale spent over 10,000 bitcoins using the same methods. With the latest action, the whale has now spent a total of 14,000 bitcoins.
Timing and Privacy Concerns
The whale typically spends the block rewards when the price of bitcoin is rising. It remains unclear whether the funds were transferred between wallets or sold. The latest transfer had little privacy, according to Blockchair.com. Co-spending, sweeps, and matched addresses were identified among the 20 transfers.
Hot Take: Significant Bitcoin Whale Moves 1,000 Bitcoins
An elusive bitcoin whale, known for their large transactions, has recently moved 1,000 bitcoins from wallets created in 2010. This whale has a history of making similar moves during bull runs. The transfers were caught by btcparser.com, and the whale’s activity follows a consistent pattern observed in 2020 and 2021. The whale uses P2SH addresses and spends 20 block rewards each time. It remains uncertain whether the whale is selling the bitcoins or simply moving them between wallets. Regardless, this transaction confirms the continued presence and activity of influential bitcoin whales in the market.
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