Bitcoin whale 'awakens' after 10 years.

[balotelli]

A Bitcoin whale account unexpectedly comes back to life after 10 years as it transfers an equivalent of $37.8 million to another wallet. Data on Lookonchain on June 8th reveals that a Bitcoin account that had been dormant for over 10 years has transferred a total of 1,432.93 BTC, equivalent to $37.8 million, to a new address named 'bc1psv'.

The last activity of this account was on April 9, 2013, during the period known as the 'Satoshi era,' when it received 1,432.92 BTC at a price of $195 per Bitcoin. This means the investor had invested $280,000 and could potentially make a profit of nearly $37 million if they decide to sell all the coins in the wallet at this time.



Currently, the intentions of the owner cannot be determined. Data from Cointelegraph shows that every previous awakening of a 'whale' has resulted in significant fluctuations in the Bitcoin market. The event has garnered attention from the cryptocurrency community due to the potential impact of the origin of these coins on early-stage participants.

[siedemtrzy]

Wow, I wonder if he found his lost keys or just really was holding them for 10 years. And if he decided to sell it now it's not the best moment to do that, lol. We'll see how it goes anyway.

[Walesone]

So, a Bitcoin account from the 'Satoshi era' suddenly decides to stretch its fins and make a massive transfer. Talk about a grand entrance! I can't help but wonder if this is a strategic move or just someone cashing in on their long-term investment. Either way, it's definitely making waves in the crypto community.

[crypticj]

I hope this guy won't start selling it right now haha.

We already have a pretty big pressure on the bitcoin and the crypto market so it will send everything to hell pretty quickly.

But I think people like him will probably wait for bitcoin to go to 100k and beyond before selling even one coin.

[Z390]

I hope this guy won't start selling it right now haha.

We already have a pretty big pressure on the bitcoin and the crypto market so it will send everything to hell pretty quickly.

But I think people like him will probably wait for bitcoin to go to 100k and beyond before selling even one coin.

We are talking about Bitcoin here, few whales have sold big numbers of Bitcoin in the past and we don't even noticed, there are more whales that will buy up these thousand pieces of Bitcoin in days, believe that, it has happened before and it will keep happening in future, so, brother whale, if you are listening to this, proceed and sell your Bitcoin, i will keep buying what I can afford and I will one day end up with good numbers of Bitcoin.

The same whales can't keep topping the chart of biggest holders for life, when the time is right there will be new readjustment among the biggest holders, it's nothing alarming.

[Avantika jaiswal]

Recently, there have been reports of a Bitcoin whale resurfacing after a decade of inactivity. A Bitcoin whale refers to an individual or entity holding a significant amount of Bitcoin, often with the potential to influence the cryptocurrency market due to the large size of their holdings.

The reemergence of this particular Bitcoin whale has caught the attention of the crypto community and market observers. After ten years of dormancy, the whale has seemingly reawakened and potentially has the power to impact the Bitcoin market dynamics.

[mk4]

This is a total nothing burger as 1,432.93 BTC or $37.8 million would barely move bitcoin's price; and in the first place it would be a total dumb move for a "whale" to dump all that in one market order — assuming that was the person's intention in the first place.

[franky1]

this is old news
it was talked about a few days ago with a similar thing.. whereby coins that were generated in 2009. were spent into exchanges like mtgox and the stash in mtgox from 2013 is now moving due to the bankruptcy administration..

whales are people holding 100k plus. like M.saylor, or other entities that OWN their stash..

this however is not a whale, but a shark.. and also its a mtgox stash. thus not an individual owner but a small part of mtgox total hoard stuck in bankruptcy administration

this event is not a sell-off. its just a re-organisation of the mtgox stash ready to pass out to creditors in the future (moving from cold to hot wallets so to speak)

[Dunamisx]

A Bitcoin whale account unexpectedly comes back to life after 10 years as it transfers an equivalent of $37.8 million to another wallet. Data on Lookonchain on June 8th reveals that a Bitcoin account that had been dormant for over 10 years has transferred a total of 1,432.93 BTC, equivalent to $37.8 million, to a new address named 'bc1psv'.

This is apparently not the first time bitcoin whales have been discovered neither their first time of awakening from long time inactivity, i can count on my threads like this that we've seen them waking up abd holding a larger amount of bitcoin in those wallets and were being moved, so why should we have much concern either on the new generation bitcoin holders or the old time bitcoin whales, some had suspected maybe some of these whales are Satoshi while some mentioned other names, yet that is not big enough to move the market price bullish or bearish.

[Crypt0Gore]

Weeks back there was a rumor that some Bitcoin whales are intentionally changing their wallet, due to few whales losing their long locked Bitcoin inside a wallet that was never moved, I think it's possible that this whale is just trying to stay secured, when Bitcoin sits in a wallet for long time there is a possibility that your key is about to get compromised, that's on the owners side of thing though, I do like changing wallet every single year too, I move all my funds out into a newly created wallet, same thing might be happening here.

[bettercrypto]

If any of those whale investors are very rich now, they might as well plan to hold it for 10 years then after that they will release their Bitcoin to fiat. And he succeeded in his holdings. I also don't think that he lost the private key but rather that is probably his plan with the holdings.

Maybe the bitcoin at that time was around 13$ something, Think about that with his investment of 18,880$ now that he has sold around 37M$ more than his money now. he is already a millionaire.

[Z-tight]

when Bitcoin sits in a wallet for long time there is a possibility that your key is about to get compromised, that's on the owners side of thing though, I do like changing wallet every single year too, I move all my funds out into a newly created wallet, same thing might be happening here.

BTC is not stored in a wallet, it is stored on the BTC network and the funds can only be moved with its keys, so you can hold your keys in one wallet software or in a hardware wallet for as long as possible and it will remain safe if you have good operational security of keeping your keys and your seed phrase safe. And surely the best way to do that is to store the funds in cold storage, either in a hardware wallet or in an air-gapped device. If your security hasn't been compromised, i don't see the reason to move your funds annually, it does not increase how secure your funds are.

[UchihaSarada]

The last activity of this account was on April 9, 2013, during the period known as the 'Satoshi era,' when it received 1,432.92 BTC at a price of $195 per Bitcoin.

Those coins are from an old era and the news is from an old time. Do you think that sharing a news from April in June is something very laggy?

This means the investor had invested $280,000 and could potentially make a profit of nearly $37 million if they decide to sell all the coins in the wallet at this time.

If the guy sell those bitcoins in April, price would be dumped or panic effect from that news will cause a price dump. In fact it did not happen on the market and that movement is not for dumping on market.

Logically it is not reasonable to dump your bitcoins in 2023 that is a bear market if you are not in an emergency and need cash when your pocket is empty. It was better to cash out in 2021, 2022 or wait till 2024 or 2025 with a new bull run.

[buwaytress]

Actually, I hardly view these dormancies to be "unexpected" anymore these days. I fully expect dormant addresses (how we view them as dormant is also curious, is it 2 years, 5 years, 10?) to be activated at some point. My own wallet from 2017 only "woke up" in 2020, and almost completed 4 years. I'm guessing anyone who holds also finds no need to move (mine was only to upgrade to segwit).

Doubt we really have more than a handful of big whale wallets who no longer are alive.

[franky1]

Actually, I hardly view these dormancies to be "unexpected" anymore these days. I fully expect dormant addresses (how we view them as dormant is also curious, is it 2 years, 5 years, 10?) to be activated at some point. My own wallet from 2017 only "woke up" in 2020, and almost completed 4 years. I'm guessing anyone who holds also finds no need to move (mine was only to upgrade to segwit).

Doubt we really have more than a handful of big whale wallets who no longer are alive.

again this topic is about a MTGOX stash. a stash thats suppose to be of ~200kbtc. all split up into smaller amounts of a few thousands btc each.. so expect lot of movements of a few thousand btc to move from 2013 in the next couple years

also people put funds into retirement plans when they are 20 that they cant touch until they are 60. so dormancy should be thought of as 40+ years. not 2,5,10
heck i have a stash thats 11 years. i have no plans on moving it anytime soon

[BenCodie]

So, a Bitcoin account from the 'Satoshi era' suddenly decides to stretch its fins and make a massive transfer. Talk about a grand entrance!

Why is this called the Satoshi Era? It was over 4 years after inception. Satoshi era would have to have ended 2012 or earlier, or around when he disappeared.

Either way, it's definitely making waves in the crypto community.

I hope this guy won't start selling it right now haha.

We already have a pretty big pressure on the bitcoin and the crypto market so it will send everything to hell pretty quickly.

But I think people like him will probably wait for bitcoin to go to 100k and beyond before selling even one coin.

As others have mentioned too, this is a drop in the water. 1400~ BTC will barely effect the market. Liquidity can eat this amount up easily. It will not "send everything to hell" as you so intelligently (as always) put it crypticj.

this is old news
it was talked about a few days ago with a similar thing.. whereby coins that were generated in 2009. were spent into exchanges like mtgox and the stash in mtgox from 2013 is now moving due to the bankruptcy administration..

whales are people holding 100k plus. like M.saylor, or other entities that OWN their stash..

this however is not a whale, but a shark.. and also its a mtgox stash. thus not an individual owner but a small part of mtgox total hoard stuck in bankruptcy administration

this event is not a sell-off. its just a re-organisation of the mtgox stash ready to pass out to creditors in the future (moving from cold to hot wallets so to speak)

On point, as always. Thank you for the insight franky

[shivansps]

I wonder if he lost the key and then found it, or it was a well-thought-out plan and he initially planned not to use the wallet for 10 years. Also wondering if he will now hold bitcoin or dump something at this price, this could affect market sentiment. Maybe 2023 year not the best year for cash out

Maybe it was just a preventive wallet change, as some people do, sometimes transferring funds from one wallet to another but it's unbelievable

[ImThour]

Most likely an account that got hacked by those groups of people who utilize their graphic powers to crack wallets instead of Bitcoin mining.
They might have been working on it since 2020 I guess? Finally, they got it and now they will divide it with 10000s of people.

If I am wrong, then happy for the guy who participated in the initial stages of Bitcoin, that's a big reward for him.

[franky1]

Most likely an account that got hacked by those groups of people who utilize their graphic powers to crack wallets instead of Bitcoin mining.
They might have been working on it since 2020 I guess? Finally, they got it and now they will divide it with 10000s of people.

If I am wrong, then happy for the guy who participated in the initial stages of Bitcoin, that's a big reward for him.

its not a early adopter individual nor a hacker.. its mtgox stash

[franky1]

this topic which starts by saying

Data on Lookonchain on June 8th reveals that a Bitcoin account that had been dormant for over 10 years has transferred a total of 1,432.93 BTC, equivalent to $37.8 million, to a new address named 'bc1psv'.

refers to this tweet
https://twitter.com/lookonchain/status/1666679589421338626

which refers to this address
1E6nViR5Xv1wyNXg87SamvtLJ5TyXuksLC

which has been talked about before here
https://bitcointalk.org/index.php?topic=5455736.0

where people assumed last week that the early mined coins of 2009 that moved in 2013(and moved again last week) originated as satoshis stash.. which was not true either, as explained here
https://bitcointalk.org/index.php?topic=5455736.msg62374709#msg62374709