• A long-dormant Bitcoin (BTC) whale has unloaded $29.75 million worth of the top crypto asset after sitting on it for nearly 13 years.
• The address received 1,000 BTC back in November 2010 and another 5 BTC in April 2011.
• Numerous transactions from long-dormant wallets have led to speculation that the BTC could be owned by Bitcoin’s creator Satoshi Nakamoto.
A Long Dormant Bitcoin Whales Awakens
A long-dormant Bitcoin (BTC) whale has abruptly woken up after sitting dormant for nearly 13 years and unloaded $29.75 million worth of the top crypto asset into another unknown wallet. The blockchain-tracking platform Whale Alert first spotted the transaction, noting all 1,005 BTC was sent from an ancient address to another unknown wallet.
The whale first received 1,000 Bitcoin all the way back in November 2010, when BTC was trading at $0.225, according to BitInfoCharts . Another five BTC were received in April 2011 when Bitcoin was trading at $1.31 – resulting in a 12,848,100% increase on its value by the time of transfer on Monday this week.
Suspicion of Dusting Attacks
On numerous occasions over the past 12+ years, this wallet did receive minuscule amounts of Bitcoin – leading many to suspect dusting attacks were being carried out by hackers or scammers attempting to break the wallet holders’ privacy or alternatively used by academic researchers and law enforcement for non-malicious reasons.
Transactions from long-dormant wallets typically drum up media interest due to speculation that it could be associated with Satoshi Nakamoto – Bitcoin’s secretive creator who is estimated to have mined one million BTC starting with a 50 reward for the genesis block on January 3rd 2009 with their last verifiable online sighting being December 2010..
Additional Large Transactions
In addition to this whale’s large transaction other whales took part in several other large transactions on Monday including: 2,566 BTC worth nearly $75.5 million transferred from an unknown wallet to Coinbase; 2,567 BTC worth more than $75.5 million transferred from a separate unknown wallet to Coinbase; 10,798 BTC worth more than $317.7 million transferred from Gemini; and 3201 BTC worth more than 94$5million transferred from an unknown wallet to Coinbase