Navigation

© Zeal News Africa

Satoshi-Era Bitcoin Whale Emerges After 13 Years with Staggering 640,000% Profit

Published 1 day ago2 minute read
David Isong
David Isong
Satoshi-Era Bitcoin Whale Emerges After 13 Years with Staggering 640,000% Profit

A Bitcoin wallet, which had remained entirely dormant for over 13 years, recently became active, transferring a significant portion of its substantial balance. This sudden movement, highlighted by blockchain analytics firm Arkham, offers a compelling glimpse into the massive crypto fortunes accumulated during the nascent stages of Bitcoin, when its creator, Satoshi Nakamoto, was still actively involved online.

The address associated with this wallet initially received 312 BTC back in 2012. At that time, the average price of Bitcoin was a mere $12.22 per coin, making the entire stash worth just over $5,400. The stark contrast to today's market value is astonishing: the very same coins are now valued at more than $35 million, demonstrating an incredible appreciation rate.

This week, the long-untouched wallet initiated a series of transactions, effectively splitting its holdings. A substantial portion, comprising 132.03 BTC, equivalent to approximately $15.6 million, was transferred to a new, distinct address. Additionally, a smaller sum of 5 BTC, valued at roughly $570,000, was sent directly to the cryptocurrency exchange Kraken. The remaining 307.79 BTC coins from the original balance stayed in their existing location, untouched by these recent movements.

Transaction history confirms that this wallet was indeed active during the early days of the Bitcoin network. During that period, Bitcoin was primarily used by a specialized group of developers, enthusiastic early adopters, and experimental platforms such as SatoshiDice. Following those initial activities, the wallet had shown only minor traces of 'dust' transactions, often associated with phishing attempts or mixing services, but no significant activity until its recent awakening.

Initially, various cryptocurrency 'whale trackers' reported observing three separate awakenings of wallets containing 300 BTC and 444 BTC. However, upon closer inspection, it was determined that these seemingly distinct flows were all interconnected and part of the same coordinated group of transactions. These movements represent a deliberate reorganization of coins that had remained completely untouched for over a decade. The level of financial appreciation is truly remarkable; from an initial investment of less than $10,000 in 2012, the wallet's holdings have swelled to tens of millions of dollars, signifying a profit exceeding an astounding 640,000%.

Loading...
Loading...
Loading...

You may also like...