An unknown old Bitcoin (BTC) miner awakened after more than ten years of slumber, which caused a fresh quake in the cryptocurrency market, according to a report from Whale Alert.
19 Bitcoin, or more than $1 million at today’s exchange rates, were moved from the address “14CZ9” to the address “bc1qw6.” Nonetheless, these coins remained at the new location and did not move.
On Nov. 28, 2013, 11 years ago, this venerable Bitcoiner made their first transaction. The Bitcoin was trading at slightly over $1,000 at the time.
https://x.com/whale_alert/status/1833435474527944901
But even as the price of one bitcoin dropped, the unidentified investor kept adding to his holdings. By such estimates, they had amassed slightly over $12,500 worth of Bitcoin by June 2014.
Years later, the projected value of this coin is over $1 million, with an 8.692% estimated profit margin. This indicates that the miner who is yet unidentified made an average return of 870% annually.
The manner the money was partially sent to the unidentified investor’s wallet and the fact that he got some of his Bitcoin via a CoinJoin address—a technology that aggregates several transactions from several senders and sources into one—both point to the miner’s identity.
In the cryptocurrency ecosystem, where members often believe that old Bitcoin addresses are waking up primarily to lock in returns on their currencies, which can reach thousands of percent, such awakenings are rarely greeted with cheers.
With the proverb “the glass is half full” in mind, it’s possible that this investor has seen the need of moving their Bitcoin to a new, more secure “bc1” address.
