A Long-Dormant Bitcoin Wallet Suddenly Transfers $29.75 Million Worth of BTC
A Bitcoin whale recently made a significant move in the cryptocurrency market. After holding onto the digital asset for almost 13 years, the whale unloaded $29.75 million worth of Bitcoin. Here are the key points:
– The whale, which had been inactive for over a decade, sent all 1,005 BTC to an unknown wallet.
– The whale initially received 1,000 BTC in November 2010 when Bitcoin was valued at $0.225. It received an additional 5 BTC in April 2011 when Bitcoin was trading at $1.31.
– The value of the whale’s Bitcoin holdings increased by an astonishing 12,848,100% by the time of the recent transfer.
– The wallet had been subject to dusting attacks, where hackers and scammers send small amounts of cryptocurrency to wallets to compromise privacy.
– The transfer of funds from long-dormant wallets often sparks speculation about the identity of Satoshi Nakamoto, the mysterious creator of Bitcoin.
In addition to this significant transaction, other Bitcoin whales were also active on Monday:
– Two separate unknown wallets transferred a total of 5,133 BTC worth over $151 million to Coinbase.
– Gemini transferred 10,798 BTC worth over $317.7 million to an unknown wallet, and another unknown wallet sent 3,201 BTC worth over $94.5 million to Coinbase.
This sudden activity in the Bitcoin market has attracted attention and speculation. It will be interesting to see how these transactions impact the cryptocurrency’s overall market dynamics.
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