1,000 BTCs, extracted back in 2010 and now worth $11.5 million, have abandoned their original wallet
An unknown individual recently moved Bitcoin Method worth over $11 million: these cryptocurrencies were mined back in 2010, and have never left the original wallet since.
The 1,000 BTCs in question, now worth $11,550,000, have been transferred to another address. The strange movement of money was reported on LinkedIn by professional trader Kirill K.
Such coins have been mined in September of 2010, when the price of a single Bitcoin was inferior to the 10 cents of dollar: therefore, to the time the total value of these coins was of only 100$.
Which effects will this transaction have on the price of the cryptocurrency? According to Hans Hauge, Head of Quant Strategy at Ikigai Asset Management, the consequences will be minimal:
„I think that the old miners must pay a lot of attention to how they move, so as not to scare the market. In any case, transferring $11 million to a market with multi-billion-dollar volumes per day should in no way unbalance the balance“.
In May this year a Bitcoin address, containing 50 coins generated in February 2009 – about a month after the launch of the Bitcoin blockchain – transferred its funds to two other wallets. Some have speculated that the transaction was carried out by none other than Satoshi Nakamoto, a pseudonym used by the Bitcoin creator(s), since at the time very few people undermined the cryptocurrency.