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.
[adinserter block="1"]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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