Bitcoin Whale Breaks 8 Year Long Silence With $30 Million Worth Of BTC Transfer
May 14 2022 - 7:00PM
NEWSBTC
After an eight-year dormancy, a Bitcoin (BTC) Whale unexpectedly
moved $30 million worth of BTC. On November 20th, 2013, the exact
address received 1,000 BTC worth $567,600 at the time, Blockchair
reported. The Bitcoin remained dormant in one wallet until it
was moved as part of a much larger block that sent nearly 2,100 BTC
to two other addresses. One address received 2,000 bitcoins, while
the second collected above 99.99 bitcoins. Related Readings | Snoop
& Gary Vee Got “Ownership” Of A Basketball Team With Ice Cube’s
BIG3 NFTs Bitcoin Movements In Dormant Wallets 1,000 BTC were
worth $30,090,000. That’s more than 53 times the original price
from 2013, when Bitcoin was only $567. The transaction only cost
0.0016 BTC in fees, which is about $47.15 at the time it was
executed. During the last eight years, the inactive whale wallet
received trace amounts of Bitcoin 23 times, and it appears that
those amounts were for dusting attacks. What are dusting
attacks? These involve hackers and scammers sending minuscule
amounts of Bitcoin (or other cryptocurrencies) to break wallets’
privacy. The advanced blockchain tracker, Whale Alert, traced the
transaction and reported on Twitter as: A dormant address
containing 1,000 #BTC (30,395,186 USD) has just been activated
after 8.5 years (worth 468,643 USD in 2013)! Blockchair also
identified another wallet that has remained dormant since 2012 and
finally transferred 500 BTC on Thursday. The first deposit of one
Bitcoin was made back on 5th April 2012. The wallet then
added another 499 BTC on June 3rd of the same year. The Bitcoin
price at that time was only $5.25 per coin. However, throughout
that period, the wallet received modest sums of BTC, which appears
to be dust transactions used by scammers to carry out dusting
attacks. Remarks And Contribution of Satoshi Nakamoto The creator
of Bitcoin has been silent for years, but people still think they
know who it is. As a result, 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. Nakamoto launched the genesis block on
January 3, 2009. Since then, it has succeeded in mining almost
1,000,000 BTC, according to the assessment of Blockchain analysts.
Related Readings | Investors Make For Stablecoin Hills As USDT
Volume Touches All-Time High Satoshi confirmed his appearance on
the internet in December 2010 when the Bitcoin network’s client
software version was 0.3.19, and now Bitcoin’s version is
22.0. Bitcoin has been showing high volatile movements
during the last few months; it was at the price of $ 36,000 before
a week and declined to $25,401 last Thursday. Bitcoin is
currently recovering from a market-wide dip. As of the time of
writing, it has increased in value by 13.5% from this year’s low
and is trading for $29,353. Featured image from Pixabay, and
the chart from Tradingview.com
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