Ancient Bitcoin Wallet Strikes Gold: Moves $9.5 Million After Decade-Long Hibernation

• A Bitcoin wallet address from the Satoshi era moved 412.12 BTC on February 8, 2023, with a value of about $9.5 million at the time. The last transaction from the address was made in 2012 and it shows a 287,778.79% profit percentage.
• In January 2023, a BTC whale transferred 13,369 BTC from an unknown wallet and 186,009 ETH from another unknown wallet. Whales, or individuals or wallets owning a large amount of a specific token, can significantly impact market prices once they decide to withdraw, hold or trade their tokens.

A Bitcoin wallet address made during the Satoshi era moved 412.12 BTC on February 8, 2023, where 1 $BTC was valued at about $23,000.00. The last transaction made by this address was on October 1, 2012, where 1 $BTC is worth $8.00.

Calculating this, the wallet held about $9.5 million during the time that it was emptied, far from the $3,300 worth of BTC in 2012. This shows a 287,778.79% profit percentage. 

As of this writing, $BTC is valued at $21,797.65, though it is down $24,182.86 all-time high for the last 30 days. According to the online publication CoinDesk, the decline in the price of the first-ever crypto in the space is largely because crypto exchange giant Kraken agreed to shut its cryptocurrency staking operations to settle charges with the U.S. Securities and Exchange Commission.

Before January 2023 ended, a BTC whale transferred 13,369 BTC from an unknown wallet to another. As per BitInfoCharts, this unknown wallet was used for sending and receiving funds and was also found to be one of the top Bitcoin wallets in the space. The same whale moved 186,009 ETH from another unknown wallet.

Speaking of whales, in September 2022, a mysterious wallet that holds about 22 billion Smooth Love Potions (SLPs), or more than 50% of the total circulating supply of Axie Infinity’s in-game token, turned out to have the address of Binance Ronin Gateway Contract, and not any other anonymous whale. This was confirmed via Twitter by Sky Mavis co-founder Jeff Zirlin, also known as Jihoz.

Whales are individuals or wallets that own a large amount of a specific token. These whales can significantly influence market prices once they decide to withdraw, further hold, or trade the tokens they have. 

But whales can also be overpowered by other users, in June 2022, users of Solend, a Solana-based borrowing and lending service, passed the governance proposal SLND2 that invalidates the controversial “emergency power” proposal for its second voting.

This was after the first voting of users agreed to a governance proposal to force a takeover of the protocol’s largest account. According to Solend contributors, the whale account’s “extremely large margin position” was getting dangerously close to a catastrophic on-chain liquidation cliff; the takeover will allow the funds to be withdrawn instead of automatically liquidated on the open market.

This article is published on BitPinas: Ancient Bitcoin Wallet Strikes Gold: Moves $9.5 Million After Decade-Long Hibernation

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