On July 12, a 2012 old whale at the time of transfer spent 740 bitcoin worth about $ 26 million after deciding not to move the coins for nine years. The whale acquired the bitcoin on May 31, 2012 when the crypto supply was worth only $ 3,700.
Old school whale moves 740 “sleeping bitcoins”
Bitcoiner noticed a whale movement 740 Bitcoin (BTC) on Monday after the coins remained inactive for over nine years. Bitcoin lasted approximately 3,330 days when BTC was acquired on May 31, 2012. The address launched in the spring of 2012 and the wallet has been stacking small BTC increments since the first large deposit of 740 BTC nine years ago.
At the time of acquisition, Bitcoin (BTC) was trading for $ 5 per coin, so the 740 BTC was worth $ 3,700. Today, however, the supply was worth over $ 26 million when it was transferred on Monday.
The whale movement was captured by Wal-alert.io, which stated on Twitter that a “dormant address at 791 BTC ($ 26,147,621 USD) has just been activated after 9.1 years”. According to blockchair.com’s transaction statistics, around 640 BTC went to one address while 100 BTC went to another address.
The transaction hash and details show that the transfer was sent with a low privacy rating (45 out of 100) according to Blockchair’s privacy-o-meter. After the transfer sent the bitcoins to two addresses, the coins were then skimmed into a tree of BTC addresses.
Many idle whales from the early days stirred in 2021
Whale sightings are a popular pastime for bitcoiners and there have been many big moves this year. For example, Bitcoin.com News reported on June 9th on the 2010 “mysterious whale” that moved over 10,000 BTC that had been idle for over a decade.
In addition, data shows that in the early days, a large number of people mined bitcoin along with the creator of the crypto-asset, Satoshi Nakamoto. Last June, an old mining whale from 2010 at block height spent 687,847 100 BTC which was idle mined on July 15 and then the next day in 2010 for over ten years.
What do you think of the 2012 whale that moved 740 bitcoin on Monday? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Twitter,
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