Recently, news has been made about a long-dormant Bitcoin whale from the Satoshi era.
The Bitcoin Whale Has Moved 139 BTC Since Waking Out from Hibernation
Many in the Bitcoin community have become interested after hearing that wallet 1H1Ab6 transferred 139 BTC to a new SegWit address. About $2,250 had been spent by the wallet’s owner to buy the coins in June 2011. However, the stash’s estimated current market value is $3.5 million, representing a significant increase in value over time.
Ancient Bitcoins
Coins purchased at least seven years ago are referred to as ancient Bitcoins by analysts. The fact that these coins are regarded as ancient makes them much more intriguing. In the first half of this year, the activity of these vintage Bitcoins has dramatically increased.
For example, 3,200 coins have resurfaced since the beginning of 2023, 1,100 of which are from 2013. Additionally, 412 BTC worth $9.6 million were just moved from a Satoshi-era address, which is a significant sum.
What Does Movement in Old Wallets Mean?
However, it is frequently believed that movements from old wallets are a bad sign. In other circumstances, it can imply that the owner is transferring their Bitcoin to an exchange in anticipation of a huge profit. If so, sales of this magnitude may have a substantial impact on the market’s pressure on the price of Bitcoin. To keep their Bitcoin safe, owners do, however, occasionally move it to new addresses.
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