Mighty Leviathan Resurfaces: 1,000 Rare Cryptocurrency Gems From 2010 Stir as BTC Reaches New Heights at $69,210
On March 1, 2024, a notorious and massive cryptowhale uncovered 2,000 vintage bitcoins from 2010. Just four days later, on March 5, as bitcoin hit its peak value of $69,210 per coin, the same entity transferred another 1,000 bitcoins from 2010.
This prominent cryptowhale, known for its substantial cryptocurrency transactions since first being identified by Bitcoin.com News in March 2020, has executed yet another series of transfers involving 1,000 BTC, valued at approximately $63.29 million.
These coins, originally mined in the early months of bitcoin’s existence in August, September, October, and November of 2010, stem from block rewards when a bitcoin’s value was at or below $0.39.
A total of 20 block rewards from 2010 were shifted, with all related transactions appearing in block 833,219. This recent activity mirrors the cryptowhale’s historical pattern, showcased in the series of 20 transactions executed on Tuesday.
Each of the 20 aged wallets from 2010 utilized Pay-to-Public-Key-Hash (P2PKH) addresses, and the funds were amalgamated into a single Pay-to-Script-Hash (P2SH) address labeled “36i1W.” As of this report, the 1,000 BTC has been shifted from the initial P2SH consolidation address.
The maneuver on Tuesday was once again detected by btcparser.com, a blockchain analysis tool that tracks thousands of dormant bitcoin addresses dating from 2009 to 2017. The corresponding bitcoin cash (BCH) associated with the 20 BTC coinbase rewards from 2010 was also moved. This marks the 16th observation of this particular cryptowhale’s activity, as it has relocated a staggering 17,000 BTC from inactive addresses.
This enigmatic entity often selects pivotal moments for its movements, coinciding with significant price milestones and other notable dates in bitcoin’s history. Notably, it made a move on the cryptocurrency’s Jan. 3rd anniversary in 2021.
From a visual standpoint, the 2,000 BTC transaction was highlighted by theholyroger.com. Bitcoin.com News has documented this cryptowhale’s activities on 15 distinct occasions, starting from 2020, with sightings on Mar. 11, 2020; Oct. 11, 2020; Nov. 7, 2020; Nov. 8, 2020; Dec. 27, 2020; Jan. 3, 2021; Jan. 10, 2021; Jan. 25, 2021; Feb. 28, 2021; Mar. 23, 2021; June 9, 2021; Nov. 10, 2021; Nov. 12, 2021; Dec. 4, 2023; Mar. 1, 2024; and most recently, Mar. 5, 2024.
The whale’s first appearance was noted on March 11, 2020, with BTC prices fluctuating between $7,953 and just below $4,000 within a 24-hour period. Following the March 2020 activity, the whale remained inactive until October, but then resumed monthly movements through March 2021, including two separate occasions in November 2020 and three in January 2021.
After a brief hiatus, the whale resurfaced on June 9, 2021, and then again for two episodes in November 2021, one aligning with BTC’s peak price for that year. It remained unseen until the end of 2023, reemerging on Dec. 4, and earlier this week on March 1, coinciding once more with BTC reaching its highest price point.
The intriguing movements of this cryptowhale highlight a cryptic yet fascinating aspect of the cryptocurrency world, where significant transactions by unknown entities can influence market perceptions and emphasize the enduring allure of early mined coins.
Such activities not only reflect on bitcoin’s storied past but also provoke speculation about its future impact and the identity of the cryptowhale behind these monumental transfers. What are your thoughts on the 2010 mining entity that has spent 20 block rewards with 1,000 bitcoins in a single string? Let us know in the comments section below.