A particularly interesting event that has recently attracted much attention among the users of cryptocurrencies. A BTC whale that has not been active for more than 10 years has recently come back to life. On 3rd June 2024, an entity with eight wallets that registered in 2013 transferred 200 BTC which is equivalent to approximately $13.87 Million, revealing a new Bitcoin whale from the early days of the digital currency.
Blockchain analysis data reveals that the 200 BTC were purchased in a period of mid-February and late March 2013 when the price of Bitcoin was between $25 to $35 per coin. This means that the initial investment of these coins was worth about $7,000 at the highest BTC prices during that period.
Looking at the returns of these coins today, investors are richer by 197,785% of their money against the US dollar, a testimony to the growth potential of Bitcoin in the last decade. The transactions included eight traditional P2PKH old-style accounts and 2 P2SH accounts where the first one received more than 25 BTC or $1.7 Million at current exchange rates.
Further analysis of the blockchain data revealed that this same entity is likely responsible for eight distinct 2013 transactions that occurred on March 13, 2024, as those transactions were also present in the forwarding wallet. Additionally, the entity followed a similar pattern of acquiring and transferring around 200 BTC on multiple occasions in January, February, and March of 2024.
Based on the repeated spending patterns and heuristics, it has become evident that the entity behind these transactions possesses a much larger stash of vintage coins from the early days of Bitcoin. From the activity in just two wallets, it is estimated that the entity had or still controls 1,000 BTC worth a staggering $69.2 million, most of which originated from BTC collected in 2013.
This revelation places the entity in the exclusive category of Bitcoin whales, defined as individuals or entities holding 1,000 BTC or more. The brief on-chain analysis has unveiled a significant holder of vintage coins find that is both intriguing and rare in the cryptocurrency world.
The Interesting Facts and Findings by CoinGabbar reveal that the activity of this dormant Bitcoin whale after such a long time has prompted the members of the crypto community to pay attention to the situation. It is an ode to those who believed in Bitcoin in its infancy and did not sell their Bitcoins when the price was low, instead, they held on for the ride of their lives.
Due to the unknown identity of this whale, the cryptosphere continues to watch with bated breath for more activity and a possible explanation of the intent of these holders of the old coins. This event also reveals that bitcoin is not just a fad that fades away but also the possibility of getting huge profits for those who decided to invest in the digital currency at its early stages.
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