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More than $30,000,000 in Bitcoin (BTC) moves abruptly after being frozen since 2013

A Bitcoin (BTC) whale that has been silent for over eight years is suddenly making waves by moving more than $30 million worth of BTC.

According to distributed ledger explorer Blockchair.com, the address first received 1,000 BTC on November 20, 2013, when that amount of Bitcoin was worth $567,600.

The BTC stayed in the wallet until Friday, when it was moved as part of a larger block that sent nearly 2,100 BTC to two other addresses. One address received 2,000 BTC and the other received 99.99 BTC.

The 1,000 BTC were valued at $30,090,000, more than 53 times the original price in 2013 when Bitcoin was around $567. The transaction was processed for just 0.0016 BTC in fees, which equated to $47.15 at the time of execution.

The long-dormant whale wallet has received traces of bitcoin 23 times in the past eight-plus years, though those transactions appear to be dust attacks, with hackers and scammers sending tiny amounts of a cryptocurrency (dust) to a large number of personal wallets, in order violate the privacy of wallet holders.

Crypto tracker Whale Alert was the first to spot the movement.

? ? ? A dormant address with 1,000 #BTC ($30,395,186) just activated after 8.5 years (worth $468,643 in 2013)!https://t.co/P9teBUAuY4

— Whale Alert (@whale_alert) May 13, 2022

Blockchair also reports that another wallet, which has been dormant since 2012, transferred 500 BTC on Thursday. The wallet first deposited a single bitcoin on April 5, 2012 and added another 499 BTC on June 3 of the same year, when the top crypto was worth around $5.25. Over the years, the wallet in question also received small amounts of bitcoin, suggesting that bad actors or other entities were attempting dust attacks.

Transactions from long-dormant wallets usually draw media interest because they fuel speculation that the BTC may belong to Bitcoin’s secret creator, Satoshi Nakamoto.

Blockchain analysts estimate that Nakamoto mined one million BTC, starting with the first 50 BTC reward for the Genesis block on January 3, 2009. The last publicly verifiable sighting of Satoshi was in December 2010, when the Client -Software for the Bitcoin network was introduced version 0.3.19. Bitcoin is currently available in version 22.0.

At the time of writing, Bitcoin is attempting to recover from a market-wide plunge, which is currently up 5.84% and trading for $29,980.

BTC was valued above $36,000 a week ago and briefly fell below $27,000 on Thursday.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in Bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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