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A long-term holder of Bitcoin has moved their cryptocurrency after over ten years of no activity. The Bitcoin whale was spotted by analysts moving over 100 Bitcoin from two separate wallets that had been quiet for the past decade.
The last noted activity (apart from two transactions that brought a modest amount of Bitcoin into the wallets) was nearly 11 years ago and the whale, a Bitcoin miner, has not touched the wallets until now. As pointed out, the occurrence of such a long-term HODLer is so rare it’s only happened a handful of times in recent times:
Some old coins moved today (100 BTC from June 2010).
It’s very rare to see pre-GPU era bitcoins move, it only happened dozens of times in the past few years.
And no, it’s probably not Satoshi. pic.twitter.com/0jZXnmWUes
— Antoine Le Calvez (@khannib) February 24, 2021
The owner of the wallets is the same, as implied by the fact that the two mining address outputs were combined in the latest transaction. Moreover, the last few blocks mined by the address owner were mined in a close amount of time, indicating that the miner suspended their mining Bitcoin activity for both addresses at the same time.
The speculation that a veteran miner like this might be Satoshi, the creator of Bitcoin, is unlikely to hold any weight. This is because the blocks mined range between blocks 60365 and 60385, while Satoshi is suggested to have mined over 1 million Bitcoin.
Bitcoin mine return and value increase
Looking at the current trading price for Bitcoin, the over 100 Bitcoin moved is looking at a value of almost $5 million USD. At the time that the owner mined the tokens, Bitcoin was trading at only $0.08 USD. This means that from then to now, the holdings in the addresses have gained 622,500 times their value. Bitcoin’s value increases have seen exponential spikes, as bull rallies have led to strong new support levels.