Now after the June 9th appearance, on November 10, the mystery whale returned once again to spend another 1,000 bitcoin stemming from 20 block rewards mined more than ten years ago.
Last year, following the market carnage on March 12, 2020, otherwise known as ‘Black Thursday,’ Bitcoin.com News discovered a large whale spending 20 consecutive block rewards in a row stemming from blocks mined way back in 2010.
According to our timeline, the entity spent 20 decade-old bitcoin block rewards on March 12, 2020, October 11, 2020, November 7, 2020, November 8, 2020, December 27, 2020, January 3, 2021 , January 10, 2021, January 25, 2021, February 28, 2021, March 23, 2021, and June 9, 2021.
. The transfer of the 1,000 so-called ‘sleeping bitcoins’ also followed the exact same patterns as the whale’s previous spends indicating that it is likely the same bitcoin mining entity.
Another similarity is the fact that this miner has spent the corresponding bitcoin cash tied to the coins remain idle.
“When bitcoins are received, the previous owner gets paid and later the new owner begins his distribution among many 10 BTC wallets,” the onchain researcher added.
The distribution also looks like the coins could have been transferred to an exchange.
The coins could possibly be held for the crypto exchange’s VIP user base as the coins are considered ‘virgin bitcoins.’ There’s been a longstanding rumor that ‘virgin bitcoins’ can fetch a premium of more than 20% above the spot price.
The cryptocurrency community has no idea who the 2010 miner is but it is quite clear the entity mined a great quantity of bitcoin in the early days.
It’s also worth noting that the terms “spent” or “spend” in this article, do not necessarily mean that the bitcoins were “sold” to a third party for fiat or another crypto asset.
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