Another Bitcoin transfer from similar ancient wallet has been spotted
Less than 24 hours after an ancient bitcoin wallet moved more than 5,000 BTC to a known bitcoin address, another bitcoin transfer from a similar ancient wallet has been observed.
Philip Swift of Lookintobitcoin analytics tweeted about another 5,000 BTC that had been dormant for seven to nine years being moved, just like yesterday.
Colin Wu, a crypto journalist along these lines said, “Another address holding 5,000 bitcoins moved bitcoins on August 30th at 00:41:07 a.m. (UTC+8), valued at around $100 million, And has since split into several 148 BTC transactions.”
Yesterday, both reported the movement of 5,000 BTC from an ancient Bitcoin wallet.
SWIFT noted in a tweet dated August 29, “A few hours ago there was a massive movement of bitcoins that had been dormant for +7 years. 5000BTC, which was 7-9 years old, moved in a single block. One of the biggest tricks being so old.”
The analyst noted that this was “potentially important in terms of market timing because there have only been 6 other times when such a large amount of coins that old have been moved. On each occasion the market timing was impressive.”
Colin Wu also reported the 5,000 BTC move, further adding that there were three other BTC addresses of the same origin. Two held 5,000 BTC, and the third held 6,071 BTC.
It might not be unreasonable to presume that the most recent 5,000 BTC transfer originated from one of the three BTC addresses Wu mentioned. While the reason and the ultimate destination remain unclear, the transfer might be part of a fund redistribution.
Over the past few months, the ancient wallet of the Satoshi (Mysterious Bitcoin Creator) era has woken up after being “dormant” for seven to ten years.
Historically, analysts have timed the spike in the activity of ancient wallets to when Bitcoin is about to make a significant move.
