Ballena with USD $ 53 million in Bitcoin is activated for the first time in 13 years, move millions

By Hannah Pérez

The last time the wallet sent Bitcoins their holdings were valued at USD $ 4,400. Today, even with price correction, its 479 BTC are valued at more than USD $ 50 million.

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• Ballena moved 81 BTC of a larger fortune valued at USD $ 53 million.
• The last time the wallet sent Bitcoins their holdings were valued at USD $ 4,400.
• Possible wallet update? Funds went from a P2PKH address to a secwit.
• It adds to the movements of recent old whales.

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A purse of Bitcoin (BTC) that remained inactive for almost 13 years recently has returned transactions to move a fortune in cryptocurrency at a time of volatility for the market.

The address of Bitcoin In question it contained approximately 479.69 BTC, now valued at USD $ 52.7 million, and made funds for the first time since November 2012. Chain trackers Whatle alert The unusual movement in X, and the news media reported first The Block He also reported this Thursday.

Explorer’s chain data Blockchain Mempoolshow that the whale initially had a 398 BTC balance, which was just USD $ 4,400 about 13 years agogenerating today an extraordinary theoretical for its owner.

The last time he did an operation was on November 13, 2012, when he sent 4 BTC (approximately USD $ 44 at that time). Subsequently, he continued to receive around 81 BTC for the next 18 months, but without performing any retirement.

After years without registering movements, on Thursday morning, five fund shipments began by a total of 81.25 BTC (USD $ 9 million) from 2:36 am to 9:29 am UTC, according to data from the explorer cited. These funds moved from an old direction “16fxt” (type P2PKH) to modern directions “BC1Q” (native secwit).

Apart from two small transactions, potentially testing, most of the funds have not been transferred more so far and remain without labeling, according to The Block Based on the data of the chain analysis platform Arkham Intelligence.

Possible wallet update

It is not clear to whom the wallet belongs and what is the reason for today’s transfer, however, the transfer of the Bitcoins Towards more modern addresses could suggest a Security update effort.

The addresses of Bitcoin that begin with a 1 p2pkh type, are the oldest format, which are less efficient in terms of space in the Blockchain and transaction rates, which are usually higher compared to modern formats. Introduced at the beginning of the network in 2009, these types of addresses are also known as “inherited.”

Although they remain compatible, the directions that begin with 1 are less used today due to subsequent improvements, through the P2SH (which begin with “3”), followed by Segwit (with “BC1Q”), even the most modern Taproot (with “BC1P”).

Ancient whale movements

The movements of the whale in question occur at an agitated moment for the cryptocurrency market, where Bitcoin 11.5% price has been corrected from its historical maximum of more than USD $ 124,000 conquered last month.

Its price at the time of edition of this article is below USD $ 110,000, reflecting a decrease of around 2% in the last 24 hoursaccording to data from Coingcko. Even with immediate losses, the value of Bitcoin It is more than 10,000 times higher than the last time that the wallet reported in this article withdrew funds in 2012.

The transaction adds to a broader wave of activity among old wallets, also called “OG”, which have been awakening after years of inactivity to move Bitcoins towards new addresses or even rotate their holdings to Ethereum.

In July we reported a whale ‘og’ that moved Bitcoin for more than USD $ 9 billion at that time after having been inactive since 2011. That unknown entity moved its treasure of more than 80,000 BTC to Galaxy Digital in what was later identified as the greatest known sale of ancient bitcoins in the history of cryptocurrency.

More recently, an address with USD $ 5 billion in Bitcoin He sold to buy Ether (ETH) amid a broader institutional interest in that cryptocurrency that has resulted in a 70% rebound in its price in the last three months.

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Hannah Estefanía Pérez / Diariobitcoin

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