In 2010, an anonymous individual or organization that earned 2,000 Bitcoins (BTC) as mining rewards moved these Bitcoins into a single wallet. This move comes at a time when whale movements are increasing and is being watched carefully by the crypto community.
$600 BTCs Are Now Worth $140 Million
According to a developer's statement, 40 different mining rewards, each containing 50 Bitcoins, were transferred to a single wallet. Although the initial value of these Bitcoins was $600, their current value is approximately $140 million.
Bitcoin miners are rewarded with a certain amount of Bitcoin per block. The block reward is halved every four years, and the reward, currently 6.25 BTC, is expected to drop to 3,125 BTC on April 20.
It is noteworthy that the Bitcoins obtained from mining were kept unsold for 14 years and their value increased to millions of dollars. Additionally, there are warnings that such large moves may indicate a liquidity crisis.
Large Movements of Whales Are Observed
Movements to transport large amounts of Bitcoin have been increasing recently. The fifth richest Bitcoin wallet moved $6 billion worth of BTC to three new addresses. In January, a person transferred 26.9 Bitcoins from Binance to the Genesis wallet, making the funds inaccessible.
These movements, especially situations such as the activation of dormant wallet addresses, lead to speculations in the cryptocurrency market and various interpretations of market dynamics.
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