A Bitcoin wallet that has sat dormant since 2011 has abruptly come back to life, moving $10 million worth of BTC.
First reported by whale-tracking service Whale Alert, a wallet that was last active on May 9th, 2011, suddenly sent 400 BTC worth about $10.9 million to another address.
According to Bitinfocharts, the 400 BTC was sent to a newly created address, before being sent again to another.
The whale initially bought 0.2 BTC on May 7th, 2011, for $1. He bought 100 more BTC two days later for $481, and then 900 BTC for $4,811. No other transactions are recorded, other than tiny amounts of BTC being sent to the address, likely dusting attacks, which attempt to create a connection with an address as a way to track it or wrongly associate it with a malicious actor.
At the height of the bull market in 2021, the entity’s investment went up a total of 1,303,522% in ten years.
The wallet is one of several in recent weeks to come to life after laying low for more than a decade.
Days ago, blockchain tracking service Lookonchian spotted a whale from 2013 that moved its stack for a 4,258% profit, a transaction that was worth more than $60 million at the time of the transfer. Another similar transaction was spotted last month.
Oftentimes, speculation on the whereabouts of Bitcoin creator Satoshi Nakamoto arises when old dormant wallets come to life with activity.
The pseudonymous Bitcoin creator’s last online activity was in December of 2010 on the Bitcoin Talk online forum. Satoshi is thought to own hundreds of thousands of Bitcoin, with blockchain researcher Sergio Lerner estimating the figure to be in excess of one million BTC.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/BT Side
