Bitcoin millionaire active since the early Satoshi era transfers a vast sum of 469 million dollars worth of Bitcoin following a period of 14 years.
In an unexpected move, a Bitcoin whale – an entity holding 1,000 BTC or more – stirred from its 14-year slumber, transferring a massive 3,962.6 BTC, worth approximately $469 million at current prices. This dormant wallet had last seen activity in January 2011, according to blockchain data.
The whale's Bitcoin stash was initially accumulated during a time when the price of Bitcoin was around $0.37. With the recent surge in Bitcoin's value, this whale's investment has skyrocketed, increasing by over 37,000,000% to its current worth.
This specific whale is noteworthy for having held onto its Bitcoin since 2011, a period when the digital currency was trading below $30. The wallet remained silent for about 14.5 years, leading to speculation that the keys were lost or it was a deliberate HODL strategy. The recent activity, however, showed a test transaction before the full transfer to a new wallet.
Key Details:
- Whale identity: A Bitcoin wallet dormant since January 2011
- Coins acquired: 3,962 BTC in January 2011, at about $0.37 per BTC
- Moved amount: 3,962.6 BTC worth approximately $469 million in 2022
- Duration of holding: Over 14 years of dormancy before moving coins
The personal identity of the whale remains unknown, consistent with the typical anonymity on the Bitcoin blockchain. This move comes amidst a flurry of activity in the Bitcoin market, with mysterious transfers of over $8 billion in Bitcoin baffling market observers earlier this month.
As of the time of writing, Bitcoin is trading for $118,956 per coin, according to data from CoinGecko. This move by the Bitcoin whale underscores the potential for significant returns on early investments in Bitcoin and the enduring allure of the digital currency.
[1] Bitcoin's blockchain went live in 2009. [2] Large holders of Bitcoin can be people or groups involved in mining the asset in its early days. [3] In 2011, the price of Bitcoin moved from $0.29 per coin to a high of $4.58, according to Bitbo data. [4] Myriad users strongly believe that the price of Bitcoin will remain over $100,000 mark through the end of July. (Disclosure: Myriad is a product of Decrypt's parent company, DASTAN.) [5] The price of Bitcoin at the time the coins were acquired by the whale was $0.32. [6] Bitcoin hit an all-time high price of $122,838 earlier this month. [7] The new Bitcoin wallet had no previous movements and was not tagged as an exchange or other high-profile wallet by Arkham.
- The massive transfer of 3,962.6 BTC by a Bitcoin whale from a dormant wallet, last active in January 2011, highlights the potential for significant returns on early investments in cryptocurrency, especially Bitcoin.
- The recent surge in the value of Bitcoin has amplified the returns on this whale's initial investment of approximately 3,962 BTC, acquired in 2011 when each Bitcoin was priced at $0.37.
- This Bitcoin whale's decision to remain patient and HODL (hold on for dear life) for over 14 years has been inspiring for the crypto community, demonstrating the enduring allure of Bitcoin and the potential rewards of long-term cryptocurrency investing.
- In the ever-evolving landscape of finance and technology, Bitcoin whales like this one demonstrate the transformative power of blockchain and decentralized finance (DeFi) technologies, as seen in the rise of initial coin offerings (ICOs) and the growth of cryptocurrency tokens.
- As of now, market observers are puzzled by mysterious transfers of over $8 billion in Bitcoin within a month, leading to speculation about the future trajectory of Bitcoin mining, trading, and other mining-related activities.
- While the personal identity of this whale remains unknown, the activity of dormant Bitcoin wallets continues to intrigue cryptocurrency enthusiasts and experts, who closely follow trends within the crypto mining and technology sector.
