Monday the 12th of July, 2021 was the day when Bitcoiners got the chance to witness a whale movement that took roughly 9 years. Approximately 740 Bitcoins, valuing US$ 26 Million roughly today, were moved first time since 2012.
According to Bitcoiners, there is nothing compared to the sight of having witnessed an old whale moving after a long time? The sighting came obvious on 12th July 2021 when there was nothing cheerful happening within the Bitcoin market.
Approximately 740 Bitcoins, valuing about US$ 26 Million as of today, were moved first time since 2012. Noticeably, most of the coins were acquired by the unknown purchaser on 31st May 2012. This is as far back as 3,330 days. For all these years, there hasn’t been any prominent movement except for adding small fractions of Bitcoins.
What is more interesting to note about the acquisition of these 740 units of Bitcoin is that at that time Bitcoin was worth nothing. The value of one single unit of Bitcoin during that period was only US$ 5. This meant that the acquisition of 740 units of Bitcoin only cost US$ 3,700 to the purchaser. But, as of today, the value of these coins has exceeded multiple million times. The present-day value of Bitcoin is US$ 32,366. This meant that purchasing 740 Bitcoins today would require a person to pay approximately US$ 24 Million.
The first eye-witness to have seen the movement was whale-alert.io, an online entity looking for “whale movements”. The entity informed Twitter that 9 years old Bitcoins, lying idle for all these years, were finally activated on 12th July. It was informed by whale-alert.io that at the time of movement, there were 791 units of Bitcoin available with the unidentified owner. Two transactions were carried out by the owner in which 640 units were sent to an unknown address. In the second transaction, which comprised over 100 units of Bitcoin, the transfer was made into another wallet.
By judging the transaction hash, it was apparent that both transactions were carried out on the basis of low privacy ratings.
Whale sighting is considered by Bitcoiners as a darling pastime activity. Since 2019, there have been several sightings in which even those Bitcoins were activated which were from the time of Satoshi Nakamoto. The largest Bitcoin movement so far is the utilization of 10 thousand units of Bitcoin which were acquired in 2010. This very movement became apparent very recently on 9th June 2021. Until 9th June, these 10,000 units of Bitcoin remained idle for more than ten years.
These are rarest events but when they occur, they never go unnoticed. There is keen interest within Bitcoiners and the whole crypto community if they get the chance to see idle Bitcoins making any move.