💥👀 A Bitcoin OG just permanently destroyed nearly $1M in BTC — and nobody knows why
A Bitcoin wallet that had been dormant for nearly 12 years suddenly moved 20 BTC, worth around $1 million, through a large crypto custodian in March.
Three weeks later, almost the exact same amount returned: 20.00006037 BTC, compared with 20.00010537 BTC sent out. The difference was only about $3.
Then, roughly seven weeks later, the Bitcoin was deliberately sent to an unspendable address, permanently removing it from spendable supply.
Chainalysis found strong indicators that five wallets involved in the burn were controlled by the same owner. Most of the funds can be traced back to Mt. Gox-era activity, suggesting the owner was likely an early Bitcoin adopter.
But the motive remains unknown.
Possible explanations include testing an old custody setup, privacy, tax or compliance considerations, or deliberately reducing Bitcoin’s supply. None has been confirmed.
The blockchain can show us what happened — but not why.
What do you think was the real reason behind the $1M Bitcoin burn?
#Bitcoin #BTC #BitcoinOG #OnChain #ThuyBNB