Years old Bitcoin have been witnessed making move recently. The first whale movement was recorded on 4th March while the second was noted on 11th March. A total of 10,050 Bitcoin were transferred to entities that were lying idle for several years.
There is always much debate surrounding those Bitcoiners who acquired the coin in its earliest days of inception. If any Bitcoin, especially from the era of Satoshi Nakamoto, are moved, such a move never goes unnoticed.
For instance on 4th March, 2021, at least 50 Bitcoins which would worth approximately US$ 2.8 Million were seen to be spent. It was noted by the crypto community that these 50 Bitcoins were part of the block which was established in the year 2010. In 2010, Bitcoin was its initial stage, and acquiring Bitcoins was as cheaper as a kid buying candies, or even less than that.
This is the beauty of the crypto industry that a person can hold on to his assets for an unlimited time period. Similarly, those who had acquired Bitcoins somewhere in 2010 and early 2013 are widely known as “Bitcoin Whales” or “old school miners”. Their moves also become most noticeable if it was found that for several years Bitcoin Whales kept quiet. Especially when their Bitcoins didn’t move an inch, it creates more excitement.
Similarly, movements also came into the limelight at the end of 2020 and the start of 2021. In this period, it was noted that some 9,000 Bitcoins were moved for the first time since their acquisition in 2010. It was revealed recently, that the 50 Bitcoins spent on 4th March 2021 were also from the same block from which the transaction of 9,000 Bitcoins took place in 2020. As per the prevailing rates of Bitcoin, 50 Bitcoins transaction was worth around 2.8 Million Dollars.
Another prominent Whale move was recorded recently on 11th March, 2021. It was noted that at least 10,000 Bitcoins were consumed which worth US$ 570 Million. It was noted by Btcparser.com that the entity behind the transaction had not carried out any single transaction for more than 7 years. Since 2013 it was the first-ever transaction taking place from the block which was created in the same year as well.
The said transaction was carried out in two tranches (each containing 5000 BTCs) and landed in two different addresses. It was told that the entity who had spent 10K Bitcoins about the same on 11th August, 2013. At that time Bitcoin price was somewhere between US$ 250 to 265. However, the value of Bitcoin in the same year took a nosedive and the value went recorded low at about US$ 50.
Whoever is behind this 10,000 Bitcoin transaction, would be living in the fantasy world now. The returns are not only insignificant but also awe-inspiring.