After Sleeping For 9 Years, This Bitcoin Whale Starts Active Again

JAKARTA – Around 791 Bitcoins (BTC), which have been inactive for nine years, are now starting to be moved. The crypto money belongs to a wallet address that was active in 2012. At that time Bitcoin was traded at a price of 5 US dollars (around Rp. 72,480) to 15 US dollars (equivalent to Rp. 217,441).

Launching CryptoGlobe, data from the blockchain proves that the address was active more often in 2012, when the BTC price was at the level of 5.15 US dollars (Rp. 74,655). Currently the cryptocurrency has appreciated more than 630,000 percent at a price of 33,000 US dollars (Rp 478 million). Although previously BTC fell from its all-time high of US$64,000 (Rp927 million).

Meanwhile, in 2012, 791 Bitcoins transferred from the blockchain were valued at US$4,000 or equivalent to Rp. 57,985. However, now the Bitcoin is worth more than 26.1 million US dollars (approximately IDR 378 billion).

CryptoGlobe argues that the funds moved by the whale did not come from the block reward at the time, although all BTC could be consolidated to that address.

However, the newly active address cannot be used to transfer the Bitcoin Cash (BCH) he had obtained from the hard fork in August 2017 intended to store Bitcoins when the network chain split into several other Bitcoins.

Even though the transferred Bitcoins are stored in addresses that were previously inactive. The other 100 BTC is moved to an active address and may become the property of a crypto trading platform.

In 2020 Bitcoin mined in the Satoshi era has moved several times. For information, the Satoshi Era is a term for the period when Bitcoin creator Satoshi Nakamoto was still active in the cryptocurrency community until he mysteriously disappeared at the end of 2010.

Although it is not known where the flow of funds in the form of BTC was transferred, some Bitcoins have been donated to these two institutions, namely the Free Software Foundation (FSF) and the American Institute for Economic Research (AIER), each receiving 9.99 BTC.

Many think that coins that have been stored for a long time will no longer be active because the owner is thought to have lost the private key to reopen the storage place. Information on the rise of the bitcoin whale does not appear to be a figment.