A vintage Bitcoin whale who mined BTC in 2010 has sent his coins to crypto exchange Coinbase after holding onto his mining rewards for 14 years.
BTCParser, a platform that monitors wallets that haven’t made any outgoing transactions since the moment of their inception, spotted the massive transactions.
According to BTCParser’s data, the whale started moving its “virgin” coins on March 1st and then made a final move on March 5 – when Bitcoin hit its all-time high above $69,100.
Blockchain data shows the entity acquired BTC in a series of 50 coin chunks, which was the block reward in 2010. The address began earning rewards in July of 2010, when BTC was worth around $0.10, and continued until October of that year.
The entity likely solo-mined their coins at home on a personal computer using a video card or a GPU.
Assuming the whale sold their coins above the $69,000 level once they arrived at Coinbase, they would have made roughly a 68,999,899% gain on their BTC, minus the electricity costs to mine in 2010 – which would have been minimal.
Using data from the crypto analytics firm Santiment, crypto analyst Ali Martinez recently warned his 48,700 followers on the social media platform X that there has been a sudden, significant spike in profit-taking among BTC whales.
“Over the past three days, they’ve sold off more than 80,000 BTC, equating to approximately $4.8 billion.
Investors and traders are advised to proceed with caution!”
At time of writing, BTC is trading at $67,083.
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