Miners first transferred Bitcoins received as rewards for mined blocks on April 23, 2010.
In a shocking turn of events, the latest data from Lookonchain has revealed that a mysterious whale has made a jaw-dropping transaction of 50 Bitcoins (BTC) worth a whopping $3.3 million. But that’s not all – the plot thickens as 17 BTC were sent to an unknown address associated with Coinbase withdrawals, while the rest was left in a wallet with new details.
The enigmatic figure, known as the ‘Bitcoin whale’, had been in a decade-long slumber before suddenly resurfacing in April. In a bold move, the whale withdrew a portion of their massive 1,701 BTC fortune from their dormant address. Lookonchain analysts were quick to note that a whopping 246 BTC were among the assets that were transferred.
In the world of cryptocurrency, there is a legendary figure known as the “Bitcoin whale” who made a massive purchase of 4,272 BTC back in 2013. This savvy trader shelled out a whopping $125,541 for this now highly coveted digital currency, with an average purchase price of $29.39.
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But what’s even more intriguing is that these old wallets, belonging to early investors like the Bitcoin whale, often come to life when the Bitcoin market experiences a surge. It’s almost like these old wallets are signaling to the world that their owners are ready to cash in on their investments.
Crypto miners strategically began hoarding Bitcoins in January of 2024, creating a frenzy of supply and demand imbalance. This shrewd move caused the price of BTC to skyrocket, reaching a record-breaking high of $73,750 in March. However, as the halving event approaches, the company’s digital assets will slowly release their accumulated coins, putting immense pressure on the cryptocurrency’s value.”