On August 7, at block height 908992, a large whale finally moved, transferring a massive 3,000 bitcoins - worth over $348 million - that had been dormant since 2015. This is the first time these coins have moved after 9 years and 273 days.
Mystery Whale Moves $348 Million BTC As 30 Old Wallets Are Reactivated
A large amount of Bitcoin that had been silent for a long time was revived on Thursday, when a holder of a 2015 wallet transferred 3,000 BTC - worth $348.72 million based on the price at 9 AM Eastern time that morning. Over the past two months, 'Bitcoin whales' (OGs) have quietly revived old wallet chains as BTC holds steady above $110,000.
In this latest move, discovered by Bitcoin blockchain analyst btcparser.com, this whale transferred 3,000 BTC through 30 separate transactions, each withdrawal from a Pay-to-Public-Key-Hash (P2PKH) address containing exactly 100 BTC.
Instead of consolidating funds into fewer accounts, these coins are spread across a wide set of Pay-to-Witness-Public-Key-Hash (P2WPKH) wallets. This move differs from other inactive BTC spending chains over the past two months.
Privacy has been taken into account - some money transfer transactions scored 80/100 on Blockchair's security tool. This platform has flagged duplicate input addresses and noted the potential use of copy software for changing address types to match the recipient's address.
30 original wallets were funded on November 10, 2015, when the closing price of Bitcoin was only $336 per wallet. At that time, 3,000 BTC was worth only $1.008 million. With the current value of $348.72 million, this figure has increased by 34,548% compared to the US dollar.
