After lying dormant for 12 years, a Bitcoin whale has moved 139,7 BTC to a new SegWit address.
A Satoshi-era entity that has been inactive since June 2011 recently moved its Bitcoin funds from its wallet to a new SegWit address.
The entity, known as a “Bitcoin whale,” moved a stash of 139,7 BTC, whose current value exceeds $3,8 million dollars.
According to blockchain data, the entity in question invested $2.250 in bitcoin in 2011, when the cryptocurrency was still unknown to most and cost less than $20 per unit. The entity took advantage of the early days of Bitcoin's development to accumulate a significant amount of BTC, which remained inactive for the past 12 years.
The recent move has sparked curiosity in the crypto community. Firstly, the $2.250 originally used to purchase the 139,7 BTC in June 2011 has appreciated by a staggering 168.000%. As mentioned, these “old” bitcoins from the Satoshi era now have a market value of over $3,8 million.
On the other hand, the bitcoins were moved to a SegWit (Segregated Witness) address, a solution implemented in Bitcoin to solve the problems of transaction malleability in the network and to improve its scalability and performance.
In addition to this, whale movement occurs when There is less than a year left until the next Bitcoin halving, an event that will halve the current block reward received by network miners and is considered a catalyst for the price of the cryptocurrency in the market.
So far this year, 3.200 BTC have moved to new addresses after years of being dormant. As Daria Krasnova reported, of the whale bitcoins that have awakened this 2023, 1.100 BTC date back to 2013.
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