From $6 to $8.5 million ๐ฆ A Bitcoin wallet that slept for 16 years has just opened its eyes
๐ฌ ไฝ ็ซๅช่พน๏ผ็พค้่ฏด
The 100.02 BTC mined on July 30, 2010 were then worth about $6. This past Wednesday at 18:52 UTC, they were moved for the first time. Based on todayโs prices, thatโs approximately $8.21 millionโup about 1.3 million times.
Whatโs even more intriguing is the source. These coins came directly from two mining rewards: one of 50 BTC, and the other of 50.02 BTC including feesโpart of the legendary era of Satoshi. However, the coin age by itself canโt prove a link to Bitcoinโs mysterious creator. On-chain research firm Galaxy Research first teased the anomaly on X.
The real curiosity is the transfer path. This time, the old stash was combined with six small deposits, split into 10 pieces sent to address A (about 90.02 BTC), and about 90.02 BTC sent to address B. As of verification, neither address has moved again.
And this address hasnโt acted for the first time. In August 2015 it spent 200 BTC in two transactions; in December 2017 it spent 100 BTC; and in March 2018 it spent another 249 BTC. Yet the 100.02 BTC from 2010 has never moved. Thatโs the interesting part of the UTXO model: a wallet can be highly active while some coins are left โsleepingโ in the corner for sixteen years.
My take ๐ก When dormant coins move, there are usually only two interpretations: either an old player is finally cashing out, or the assets are being reorganized or handled as part of an estate plan. The latter is actually more common. Back in July last year, an institution sold more than 80,000 BTC for an early investor as part of succession arrangements. So just looking at a single transfer of 100 BTC and calling for the market to crash doesnโt hold up logically.
But it does highlight one thing: a large amount of very-low-cost old coins are still sitting on-chain. Theyโre potential overhead selling pressure. Today Bitcoin is at $82,113, down 1.2% over 24 hours. Ethereum is $2,520, down 1.8%. When sentiment is cautious, a single action by a โwhaleโ can be magnified and interpreted as a signal.
โ ๏ธ What to watch is whether these coins flow into an exchange in the coming days. Getting into an exchange is the real signal that selling is being prepared. Keeping them on a self-custody address is only a moveโnot a sell.
Do you think this is profit realization 16 years later, or just a routine tidy-up by an old player? ๐
Click the avatar to watch the livestream
Every day, Iโll take you through Bitcoinโs on-chain hot topicsโnot just what happened in the news, but also the underlying logic and opportunities ๐๐
๐ฌ ไฝ ็ซๅช่พน๏ผ็พค้่ฏด
The 100.02 BTC mined on July 30, 2010 were then worth about $6. This past Wednesday at 18:52 UTC, they were moved for the first time. Based on todayโs prices, thatโs approximately $8.21 millionโup about 1.3 million times.
Whatโs even more intriguing is the source. These coins came directly from two mining rewards: one of 50 BTC, and the other of 50.02 BTC including feesโpart of the legendary era of Satoshi. However, the coin age by itself canโt prove a link to Bitcoinโs mysterious creator. On-chain research firm Galaxy Research first teased the anomaly on X.
The real curiosity is the transfer path. This time, the old stash was combined with six small deposits, split into 10 pieces sent to address A (about 90.02 BTC), and about 90.02 BTC sent to address B. As of verification, neither address has moved again.
And this address hasnโt acted for the first time. In August 2015 it spent 200 BTC in two transactions; in December 2017 it spent 100 BTC; and in March 2018 it spent another 249 BTC. Yet the 100.02 BTC from 2010 has never moved. Thatโs the interesting part of the UTXO model: a wallet can be highly active while some coins are left โsleepingโ in the corner for sixteen years.
My take ๐ก When dormant coins move, there are usually only two interpretations: either an old player is finally cashing out, or the assets are being reorganized or handled as part of an estate plan. The latter is actually more common. Back in July last year, an institution sold more than 80,000 BTC for an early investor as part of succession arrangements. So just looking at a single transfer of 100 BTC and calling for the market to crash doesnโt hold up logically.
But it does highlight one thing: a large amount of very-low-cost old coins are still sitting on-chain. Theyโre potential overhead selling pressure. Today Bitcoin is at $82,113, down 1.2% over 24 hours. Ethereum is $2,520, down 1.8%. When sentiment is cautious, a single action by a โwhaleโ can be magnified and interpreted as a signal.
โ ๏ธ What to watch is whether these coins flow into an exchange in the coming days. Getting into an exchange is the real signal that selling is being prepared. Keeping them on a self-custody address is only a moveโnot a sell.
Do you think this is profit realization 16 years later, or just a routine tidy-up by an old player? ๐
Click the avatar to watch the livestream
Every day, Iโll take you through Bitcoinโs on-chain hot topicsโnot just what happened in the news, but also the underlying logic and opportunities ๐๐