Sleeping Giant Wakes: 2011 Bitcoin Whale Moves $3.2B After 14-Year Silence

CN
1 day ago

A vintage bitcoin whale has just shaken off the dust, shifting a hefty stack of BTC while prices have been cruising slightly above the $109,000 mark for the past 24 hours. The movement came from two separate P2PKH (Pay-to-Public-Key-Hash) addresses, each dispatching 10,000 BTC to more modern wallets.

Both transactions involved a tidy cleanup of unspent transaction outputs (UTXOs), bundling numerous small fragments into newly active wallets. The movement was caught by btcparser.com.

Sleeping Giant Wakes: 2011 Bitcoin Whale Moves $3.2B After 14-Year Silence

The first transfer cleared at block height 903916 from an address originally set up on April 2, 2011. The second move followed shortly after, confirmed at block height 903921 from another wallet created on that same day, more than 14 years ago.

While the first 10,000 BTC landed in a newer P2PKH wallet, the second batch made its way to a newer P2WPKH (Pay-to-Witness-Public-Key-Hash) address. Back in 2011, when the funds were originally acquired, each bitcoin was going for just $0.77.

Fast forward to today, with BTC trading above $109,000, that same 20,000 BTC stash is now valued at more than $2.1 billion. This means the value of the funds appreciated by a whopping 141,565,494% in value against the U.S. dollar.

One curious detail about the transfer is that the wallets used were linked to a legacy address that once funneled thousands of BTC to the now-defunct crypto exchange Mt Gox. At press time on July 4, the funds remained idle in the newly created P2PKH and P2WPKH wallets.

The blockchain parsing engine also picked up on a 118.88 BTC transfer from a long-quiet wallet first opened on Sept. 5, 2015. The coins were combined with other satoshis and funneled into a fresh wallet now holding a total of 120.99 BTC.

Right after that transaction, another 10,000 BTC were moved from a wallet dating back to May 4, 2011. This legacy address sent the stash over to a more modern P2WPKH wallet. This means in total, 30,000 ancient BTC from 2011 were moved and likely by the same entity.

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