A Vintage Bitcoin Whale Moves $66,129,507 to Coinbase After 14 Years
A Bitcoin whale who mined BTC in 2010 has recently sent his coins to the popular crypto exchange Coinbase. The whale had held onto his mining rewards for nearly 14 years before making the move. The transaction was spotted by BTCParser, a platform that monitors wallets with no outgoing transactions since their inception.
Bitcoin Whale’s Transactions
According to data from BTCParser, the whale began moving his “virgin” coins on March 1st and completed the final move on March 5th, coinciding with Bitcoin’s all-time high above $69,100. The entity acquired BTC in blocks of 50 coins, which was the block reward in 2010. They started earning rewards in July of that year when Bitcoin was worth around $0.10 and continued until October.
The vintage Bitcoin whale likely solo-mined the coins at home using a personal computer and a video card or GPU.
Potential Gains
If the whale sold their coins at the $69,000 level upon arrival at Coinbase, they would have made an estimated gain of approximately 68,999,899%. This calculation excludes the electricity costs associated with mining in 2010, which would have been minimal.
Profit-Taking Among BTC Whales
Crypto analyst Ali Martinez recently warned about a significant spike in profit-taking among Bitcoin whales. According to data from crypto analytics firm Santiment, BTC whales have sold off over 80,000 BTC in just three days, totaling around $4.8 billion. Investors and traders are advised to proceed with caution.
Hot Take: Vintage Bitcoin Whale Emerges After 14 Years
A vintage Bitcoin whale who mined BTC in 2010 has made a surprising move by sending his coins to Coinbase after holding onto them for nearly 14 years. This event highlights the potential gains early miners have experienced and serves as a reminder of the profit-taking behavior among Bitcoin whales.
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