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Home BREAKING NEWS

Satoshi-era Bitcoin Whales from 2011 Transfer 6,500 BTC Worth $230 Million After Six Years of Dormancy

by BlockNews.com Team
November 3, 2023
in BREAKING NEWS, BUSINESS, CRYPTO, FEATURED, FINANCE
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Satoshi-era Bitcoin Whales from 2011 Transfer 6,500 BTC Worth $230 Million After Six Years of Dormancy

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  • Three Satoshi-era Bitcoin whale wallets that had been dormant since 2017 recently transferred a total of 6,500 BTC worth $230 million
  • The first wallet moved 2,550 BTC worth $90 million, the second moved 2,000 BTC worth $71 million, and the third moved 1,950 BTC worth $69 million
  • Most of the BTC in the wallets dates back to July 2011 and is linked to early Bitcoin mining, as the wallets held BTC when it traded under $15

Recently, several Satoshi-era Bitcoin wallets have risen from dormancy to transfer their BTC to new addresses. These long-dormant whales hold Bitcoin from the early days of the network and their movements often make headlines in the crypto space.

The Whale Transfers

On November 2nd, three Satoshi-era Bitcoin whale addresses that had been dormant since November 2017 transferred a total of 6,500 BTC worth roughly $230 million.

Wallet #1

The first wallet moved 2,550 BTC, estimated to be worth $90 million.

Wallet #2

A second address moved around 2,000 BTC worth $71 million.

Wallet #3

The third address transferred around 1,950 BTC worth $69 million.

Dormancy Period

All three wallets had another thing in common – the last transaction from each came almost six years ago on November 5, 2017. Thus, these wallets slept through the Bitcoin bull run and the all-time high of over $69,000.

🚨 NEWS: Dormant Satoshi-era #Bitcoin wallets from 2011 transfered 6,500 BTC after six years of inactivity.

That's ~$230 million.

These wallets have held Bitcoin since its price was under $15. pic.twitter.com/1xQcX4mtFe

— BlockNews.com (@blocknewsdotcom) November 2, 2023

Origins of the BTC

Most of the Bitcoin in the three whale wallets dates back to July 2011 and is linked to F2Pool, a Bitcoin mining pool, suggesting it may have been accumulated via early Bitcoin mining. The three wallets held BTC when it traded under $15.

Conclusion

The recent movement of these long-dormant Bitcoin whales containing Bitcoin from the 2011 era comes just days after the BTC price touched a new yearly high above $35,000. As we move into 2023, more sleeping giant wallets from Bitcoin’s early days may rise up and move their BTC once again.

Tags: BlockchainBusinesscryptoCrypto ExchangeWeb3
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