Bitcoin News and Finance
Old School Bitcoin Whales Are Moving: This Week a Single Entity Transferred 10,000 BTC Acquired in 2013 Skip to main content

Old School Bitcoin Whales Are Moving: This Week a Single Entity Transferred 10,000 BTC Acquired in 2013

Image
KEBB | Official ₿itcoin News

While bitcoin’s price has neared the all-time price highs captured in February, old coins that have sat idle for many years have started to wake up from slumber. On March 4, at block height 673,162, a block reward worth 50 bitcoin from 2010 was transferred for the first time in over a decade. Also, a whale from 2013 has emerged from slumber as well, after 10,000 bitcoin that sat idle for over seven years was transferred on March 11.

2010 Block Reward Worth $2.8M Spent Last Week

One thing is for sure, a great number of crypto proponents have always been fascinated by early adopters, old-school miners, and large bitcoin whales. In the crypto space, it’s not uncommon for an owner to hold coins for over five years, to even ten years without spending any amount of funds.

In 2020 and into 2021, Bitcoin.com’s newsdesk with the help of Btcparser.com has been following an old-school mining whale who has transferred 9,000 bitcoins from 2010 block rewards since March 11, 2020. Bitcoin.com has also been tracking a great number of 2011 block reward spends that have been caught by blockchain parsers.

Old School Bitcoin Whales Are Moving: This Week a Single Entity Transferred 10,000 BTC Acquired in 2013
Old-school bitcoin whales are on the move. Last Thursday, a 50 bitcoin-block reward created on August 9, 2010, was spent at block height 673,162 and dispersed into multiple addresses. Numerous old-school bitcoin miners from 2010 and 2011 have appeared in the last few months.

Following the report on the whale who has spent 9,000 BTC, on March 4, 2021, a single block reward from 2010 (50 BTC) was spent after over a decade of sitting idle. The block explorer Blockchair’s privacy-o-meter shows that the spender leveraged a bit of discrepancy when spending these coins worth over $2.8 million using today’s BTC exchange rates.

However, this old-school miner doesn’t seem to be associated with the mega-whale from 2010 Bitcoin.com has been tracking since mid-March 2021. Out of the 50 BTC, 37.99981154 BTC still sits in an address unspent to this day. Meanwhile, 12 BTC from the old 2010 block reward’s outputs was shuffled up into a number of fractions.

A 2013 Bitcoin Whale Flexes 10,000 Bitcoin That Sat Idle for 7 Years, Coins Remain Unspent

On March 11, 2021, another interesting thing happened as a BTC whale from seven years and seven months ago, started consolidating massive amounts of BTC. With help from Btcparser.com, it was revealed that 10,000 BTC ($570M) from 2013 was consolidated by a whale into two separate addresses.

Old School Bitcoin Whales Are Moving: This Week a Single Entity Transferred 10,000 BTC Acquired in 2013
On Thursday, March 11, 2021, a 2013 whale consolidated 10,000 BTC into two separate addresses with 5,000 coins in each wallet.

Interestingly, both of the two massive moves of 5,000 BTC each stemmed from a collection of coins gathered on August 11, 2013. This means the 5,000 BTC spent at block height 674,085 and the 5,000 BTC transferred at block height 674,159 stemmed from the same owner. The consolidation of 2013 BTC from August, currently sits idle in two specific addresses holding 5,000 BTC each.

There’s also another transaction stemming from 2013 that has similar spending heuristics. One can most definitely assume that the 10,000 BTC move yesterday was in fact the same owner, and it’s obvious because the coins are consolidated into two addresses stemming from August 11, 2013.

Old School Bitcoin Whales Are Moving: This Week a Single Entity Transferred 10,000 BTC Acquired in 2013
It is not certain that this purse belongs to the aforementioned bitcoin whale from 2013 that spent 10,000 bitcoin yesterday. However, the whale that owns 2,189 BTC leveraged the exact same spending pattern as the 2013 whale with 10,000 coins. Moreover, this one stems from a collection amassed at the end of July 2013, which is very close to August 11, 2013.

The older transaction in particular, which consists of spending 2,189 BTC on February 24, 2021, indicates it shares a very similar pattern to the 10,000 bitcoin behemoth that spent coins from seven years ago yesterday. Interestingly, the coins stem from a whale that appeared in 2013 but only a number of days earlier. The 2,189 BTC worth $123 million using today’s BTC exchange rates also still sits idle since the day it was moved last month.

If the 2013 whale is the same entity that’s approximately 12,189 BTC patiently waiting to move again. If not, then it is two separate and very large whales; one with 10,000 coins and the other holding a nice sum of 2,189 BTC.

What is certain is that the high prices bitcoin (BTC) has obtained in recent weeks has spurred old school holders to wake their sleeping coins by either consolidating them or spending them on an exchange. The entity holding the 10,000 BTC stash, already had the coins consolidated back in August 2013 when a single bitcoin (BTC) was exchanging hands for just a touch over $100 per bitcoin.

What do you think about the 2013 whale consolidating 10,000 BTC on Thursday? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Thank you for sharing your thoughts.

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

KEBB | Official ₿itcoin News
On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

KEBB | Official ₿itcoin News
Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

KEBB | Official ₿itcoin News
The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

KEBB | Official ₿itcoin News
Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
1 comment
Read more

Trezor and Wasabi to Implement a Coinjoin Mixing Scheme Into Hardware Wallets

KEBB | Official ₿itcoin News
This week, the hardware wallet manufacturer Trezor, and the non-custodial bitcoin wallet with a built-in Coinjoin mixer, Wasabi, revealed the two teams are working together to introduce Coinjoin mixing into hardware wallets. On Sunday, Wasabi tweeted “hardware wallet Coinjoins are coming next year with our friends at [Trezor].” Trezor Says Company Is ‘Working on a Coinjoin Implementation’ According to Trezor and Wasabi , a form of Coinjoin mixing is coming to hardware wallets in the near future. Coinjoin is a privacy-enhancing process that is leveraged to anonymize transfers on a blockchain. Basically, the scheme involves a number of parties transacting together and mixing their unspent transaction outputs (UTXOs) in a pool to obfuscate the origin of all the funds. On Sunday, Wasabi’s official Twitter account tweeted about adding the privacy-enhancing scheme to hardware wallets. In the thread, someone asked Wasabi when they would release an “album,” and Trezor replied : “Hi, we’...
Post a Comment
Read more

Grand Theft Auto 6 to Feature a Fictional Cryptocurrency

KEBB | Official ₿itcoin News
One of the biggest franchises in the videogame industry, Grand Theft Auto, will feature in-game payments of “bitcoin” or another fictional cryptocurrency. Contractors will pay the player with this currency when they need to make anonymous, untraceable payments. This would constitute another push for Bitcoin awareness into mainstream media culture. Grand Theft Auto 6 to Feature in-Game Fictional Cryptocurrency Grand Theft Auto 6, one of the biggest gaming franchises, will feature an in-game cryptocurrency for payments according to insiders. The game will allow the player to accept cryptocurrency payments from big shot contractors who want to remain anonymous. Industry insider Tom Henderson leaked the news on Twitter earlier this week. He stated: I heard recently that in GTA 6, some missions will reward you in bitcoin instead of cash for completing some missions. The stock market feature will return, with the addition of a broker for different cryptocurrencies. If GTA 6 incorporate...
Post a Comment
Read more

Grayscale Considering 25 More Crypto Assets for Investment Products

KEBB | Official ₿itcoin News
Grayscale, the world’s largest crypto asset manager, is considering 25 more crypto assets for investment products. With the latest additions, the company’s list of coins under consideration has grown to 43. “The process of creating an investment product similar to the ones we already offer is a complex, multifaceted process,” said Grayscale. 25 Crypto Assets Added to List of Coins Under Consideration for Grayscale’s Investment Products Grayscale Investments announced Monday that it has updated its list of digital assets under consideration for 2022. Grayscale currently has $30.6 billion in net assets under management. The company explained that the “Assets Under Consideration” list comprises “some digital assets that are not currently included in a Grayscale investment product, but that have come to our attention as part of our exploration of this sector, and that our team has identified as possible candidates for inclusion in a future investment product.” Grayscale detailed: Wit...
Post a Comment
Read more

Cardano’s Cfund First Capital Goes to Israeli Fintech Startup Coti

KEBB | Official ₿itcoin News
This latest move to broaden cooperation between Cardano and Coti builds upon previous collaborations as the former seeks to upgrade its payment solution on top of the former’s expanding financial infrastructure. Strategic Investment Marks First Allocation for New Ecosystem Venture Fund One of the earliest proposed use cases for blockchain was the democratization of financial services, namely by reaching unbanked and underbanked communities worldwide. From remittance payments, access to credit facilities, or even just digital wallet solutions, advancements across the blockchain landscape have finally made this vision a reality. Among them, Coti is developing the enterprise-grade base layer for the rest to build atop of. Coti, which is short for “currency of the internet,” operates a fintech platform that supports stakeholder-driven payment solutions and empowers these stakeholders to digitize any currency. This aim aligns with Cardano’s ambitions of affordably and instantaneously ...
3 comments
Read more
Blogarama - Blog Directory