An unknown bitcoin whale who had stored Bitcoin for 11 years has decided to transfer it. The move which analyst characterize as once in a blue moon kind of transfer is a whale move as 100BTC was moved in a day.
More Than A Decade Transfer
The Bitcoin whale had stashed his wallets with BTC as far back as June 2010. Analyst noticed movements of huge transfers from two Crypto wallets that had seen little or no activity for more than 10 years.
The journey of this bitcoin whale started in the middle of the year 2010, the addresses received rewards of 50 BTC Coinbase reward each. Since then it had laid dormant other than two transactions made into the addresses. The incoming transaction was 0.00000547 BTC each and they were transferred in the course of the last 6 months.
The bitcoin whale transaction made combined the two said addresses, this suggests they belong to the same owner.
The value of the coin as at now is quite different from its value back in 2010.
Back in 2010, a bitcoin was worth $0.08 and now it is worth $49,800. This means the whale’s combined move is now worth close to $5 million at the moment, increasing in value by 622,500 times.
Who Is This Bitcoin Whale, Where Did The Coin Move To?
A user on Twitter explained in a tweet the progression of the bitcoin whale move.
He argued the move was not orchestrated by the infamous Satoshi. According to findings, up to half of the total coins were transferred to a wallet belonging to German peer-to-peer exchange Bitcoin.de, operational since 2011.
There are more interesting views to this bitcoin whale move as such moves are not common. The difference between the time the bitcoin were stashed and the time it was transferred matters, as there had been just 18 of such transactions made.
Satoshi Nakamoto had been reportedly thought to have mined up to at least 1.1 million BTC.
