By The Daily Hodl - 2 years ago - Reading Time: 2 minutes
Ancient Bitcoin Whale Awakens, Moving $148,000,000 in BTC After Lying Dormant Since 2013
A Bitcoin whale who’s been silent for eight years is suddenly making waves by moving more than $148 million worth of BTC.
The address first received 2,207 BTC on October 7th, 2013, when that amount of Bitcoin was worth $282,264, according to Blockchair.com.
The BTC remained in the wallet until Wednesday when it was moved to two other addresses. One address received 300 BTC and the other over 1900 BTC, valued at more than 524 times the original 2013 price.
The $148.1 million transactions were processed for only 0.000219 BTC in fees, equaling $14.69 at time of execution.
The long-dormant sending whale wallet has received trace amounts of Bitcoin numerous times over the last eight years, though those transactions appear to be dusting attacks, which involve hackers and scammers sending 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.
Check Price ActionDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Liu zishan/Vladimir Sazonov
The post Ancient Bitcoin Whale Awakens, Moving $148,000,000 in BTC After Lying Dormant Since 2013 appeared first on The Daily Hodl.
Original source: The Daily Hodl