Emerging from obscurity since 2021, a prominent bitcoin whale, originating from the 2010 period, has recently transferred 20 block rewards, equivalent to 1,000 bitcoins valued at $41.87 million based on present exchange rates. This is not the whale’s first such activity; they have previously executed similar transactions, involving sets of 20 block rewards, on several occasions at the onset of the bull run in late 2020 and into 2021.

Elusive Bitcoin Whale Moves 1,000 Bitcoin From Decade-Old Wallets

An extremely large bitcoin (BTC) whale has spent a total of 1,000 bitcoin (BTC) from addresses created in 2010. The 20 addresses held block rewards from that year and each wallet spent 50 BTC at block height 819,796. The whale’s activity was caught by btcparser.com and all 20 transfers can be viewed here. Similar to the spending in 2020 and 2021, the whale’s addresses were created toward the end of 2010 during August, September, October, and November.

When the transfer took place, the 1,000 BTC had a value of $41.87 million, and the entirety of these transferred funds (999.99 BTC) were once located in the address “35BRV.” These funds were moved from the 20 legacy bitcoin addresses to a Pay-to-Script-Hash (P2SH) address. P2SH addresses are commonly utilized for multi-signature transactions, necessitating several private keys to validate a transaction. At the time of writing, the 999.99 BTC has been moved to another wallet after the initial transfer.

There’s a strong possibility this whale is the same early bitcoiner that Bitcoin.com News identified back in 2020. The entity was last observed when BTC hit a record high in November 2021 and hasn’t been back since. At that specific time, the whale transferred a set of 20 block rewards, totaling 1,000 BTC, all originating from wallets established in August, September, October, and November of 2010. This pattern of activity was noted several times in 2020 and 2021, consistently following the same methodology.

This recurring pattern involves the same quantity of block rewards expended in each instance, their consolidation into a single P2SH address, and the uniformity of the bitcoin addresses’ creation dates. It is a reasonable assumption that the user was a miner who accumulated a significant number of bitcoins in the latter months of 2010. Between the end of 2020 and March 2021, Bitcoin.com tracked this same whale as they spent over 10,000 BTC, employing identical spending methods. After the previous sighting of the whale, it had expended 13,000 BTC, and with its most recent action, this figure has escalated to 14,000 BTC.

It is noteworthy that this whale usually mobilizes the strings of 20 block rewards when the price of BTC is on an upward trajectory. This observation holds true for the latest transactions, as BTC’s value lingers near the $42K mark. Additionally, it remains unclear whether these funds were merely transferred between wallets or actually sold. Similar to the spends in the past, the whale’s latest 20 block reward transfer had little to zero privacy, according to Blockchair.com. Co-spending was noticed, it was a sweep, and matched addresses were identified as well among the 20 transfers.

What do you think about the 2010 mining entity that has been spending 20 block rewards with 1,000 bitcoin in strings? Let us know what you think about this subject in the comments section below.