Bitcoin Whale Breaks Eight-Year Silence With $30 Million BTC Transfer

May 15, 2022

Perp Traders Remain Quiet As Bitcoin Fights To Retain Its $30,000 Level


Bitcoin Whale Breaks Eight-Year Silence With $30 Million BTC Transfer

Following an eight-year hiatus, a Bitcoin (BTC) Whale unexpectedly traded $30 million in BTC. Blockchair revealed that on November 20th, 2013, the identical address got 1,000 BTC valued at $567,600 at the time. The Bitcoin sat in one wallet until it was transferred as part of a much bigger block that sent approximately 2,100 BTC to two other addresses. The first address received 2,000 bitcoins, while the second received more than 99.99 bitcoins. 1,000 BTC were valued $30,090,000 at the time. That is more than 53 times the original price of Bitcoin in 2013 when it was merely $567. The transaction only cost 0.0016 BTC in fees, which was around $47.15 at the time of execution. The dormant whale wallet received trace quantities of Bitcoin 23 times in the previous eight years, and it looks like those amounts were for dusting assaults. What exactly are dusting attacks? These include hackers and scammers transmitting small amounts of Bitcoin (or other cryptocurrencies) in order to compromise the privacy of wallets.

Blockchair also discovered another wallet that has been inactive since 2012 and moved 500 BTC on Thursday. On April 5, 2012, the first Bitcoin deposit was made. On June 3rd of the same year, the wallet contributed another 499 BTC. At the time, the Bitcoin price was only $5.25 a coin. During that time, however, the wallet received little amounts of BTC, which appear to be dust transactions used by fraudsters to carry out dusting assaults.

Bitcoin’s founder has remained silent for years, yet many individuals believe they know who he is. As a result, transfers from long-dormant wallets usually generate media attention. Because they spark speculation that the BTC may be controlled by Bitcoin’s mysterious founder, Satoshi Nakamoto. On January 3, 2009, Nakamoto launched the genesis block. According to Blockchain researchers, it has successfully mined about 1,000,000 BTC since then. Satoshi first appeared on the internet in December 2010, when the Bitcoin network’s client software version was 0.3.19; Bitcoin is currently version 22.0. Bitcoin has experienced considerable volatility in recent months, peaking at over $ 36,000 just a week ago before falling to $25,401 last Thursday. Bitcoin is presently on the mend after a market-wide drop. It is currently worth $29,353 and has gained in value by 13.5 percent since the beginning of the year.


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