#Bitcoins

80,000 Bitcoins more to the blockchain

on July 4th a wallet that had been inactive since 2011 transferred 80,000 Bitcoin, valued at approximately 8.6 billion dollars, to the blockchain. The holder of these Bitcoins had stored them in a fragile file, which could have been corrupted over the last 14 years. Furthermore, these coins were protected by an old password that is easily breakable.

The identity of the owner is unknown. The only thing known is that it is a single person; we do not know if they are an individual or a legal entity. Now, considering that they are from 2011, we must take into account that the holder is a historical figure of Bitcoin, a historical figure from the era of Satoshi. It is most likely that this person acquired the Bitcoins as a reward for their mining activities when the price of Bitcoin was less than a dollar.

If a hand that has 80,000 Bitcoins bought at practically zero dollars each starts selling them, it could perfectly sink the price.

They might also want to hedge against tax risks and regulatory changes because evidently, tax agencies in all countries will be pursuing the source of the money and will try to attract it to their tax territory.

But there is also another reason: geopolitical risks. I am sure that international intelligence services and in the United States, the NSA are investigating and tracking the source of the money. And it is not because they are doing money laundering. If they were digital war funds, the fingers point to China and do not rule out North Korea.

Whatever the case, if the 80,000 Bitcoins have been added to the blockchain and if the intention is to sell them, it is very likely that the price of Bitcoin would suffer.