A long-dormant Bitcoin (BTC) whale is suddenly awakening after lying low for over nine years, according to on-chain data.
Blockchain tracker Lookonchain reveals that the address, which had previously transacted in December of 2013, has transferred 2,071.5 Bitcoin worth approximately $60.7 million.
The address originally received 6,071.48 Bitcoin on December 19, 2013, when the price was $663, and now has a balance of slightly under 4,000 BTC.
“A whale with 6,071.5 BTC ($178 million) that has been dormant for 9.3 years transferred 2,071.5 BTC ($60.7 million) out today.
And the 2,071.5 BTC was finally transferred to the address starting with ‘bc1q.’
The whale received 6,071.5 BTC on Dec 19, 2013, when the price was $663.”
According to Lookonchain, the price of Bitcoin when the wallet first came into existence was in the triple digits. With Bitcoin trading at $28,894 at time of writing, the BTC has recorded a 4,258% profit.
Over the wallet’s nine-year period of dormancy, trace amounts of Bitcoin, typically BTC worth cents, were sent to the address, indicating that dusting attacks could have occurred. Dusting attacks usually occur for various reasons including academic research, spying as well as criminal intentions.
Notable activity on long-dormant wallets usually attracts attention due to the possibility that it could be linked to the pseudonymous creator of Bitcoin, Satoshi Nakamoto. The pseudonymous Bitcoin creator’s last online activity was in December of 2010 on the Bitcoin Talk online forum. Satoshi is reputed to own hundreds of thousands of Bitcoin, with blockchain researcher Sergio Lerner estimating the figure to be in excess of one million BTC.
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The post Ancient Bitcoin Whale Awakens, Abruptly Moves $60,700,000 in BTC at 4,258% Profit After Lying Low Since 2013 appeared first on The Daily Hodl.
