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Whales suddenly move over $30 million in Bitcoin after 8 years of freezing

A Bitcoin (BTC) whale that has been silent for over eight years has suddenly created a storm by moving over $30 million worth of BTC.

According to Blockchair.com, the address first received 1,000 BTC on November 20, 2013, when that amount of Bitcoin was worth $567,600.

BTC remained dormant in the wallet until Friday when it was moved as part of a larger block that sent nearly 2,100 BTC to two other addresses. One address received 2,000 BTC and the other over 99.99 BTC.

1,000 BTC is valued at $30,090,000, more than 53 times its original price in 2013 when Bitcoin was around $567. Transactions are only processed with a fee of 0.0016 BTC, or $47.15 at the time of execution.

The long inactive whale wallet has received Bitcoin’s tracking number 23 times over the past eight years, although those transactions appear to be dust attacks, involving hackers and scammers. The island sends a small amount of cryptocurrency (dust) to a large number of private wallets in an attempt to disrupt the privacy of wallet owners.

Cryptocurrency tracker Whale Alert first spotted this movement.

Blockchair also reported that another wallet that has been inactive since 2012 transferred 500 BTC on Thursday. The wallet first deposited one Bitcoin on April 5, 2012, then added another 499 BTC on June 3 of the same year when the leading cryptocurrency was worth around $5.25. Throughout the years, the wallet in question also received a small amount of Bitcoin, indicating that bad actors or other entities are attempting to carry out brute-force attacks.

Transactions from long inactive wallets often attract media attention because they generate speculation that BTC may be owned by Bitcoin’s secret creator, Satoshi Nakamoto.

Blockchain analysts estimate Nakamoto mined one million BTC, starting with the first 50 BTC reward for the root block on January 3, 2009. The last publicly verifiable online sighting of the blockchain. Satoshi was in December 2010 when the client software for the Bitcoin network was live. version 0.3.19. Currently, Bitcoin is at version 22.0.

At the time of writing, Bitcoin is attempting to recover from a market-wide drop, currently up 5.84% and trading at $29,980.

BTC was valued at over $36,000 a week ago and briefly dipped below $27,000 on Thursday.