Mega Whale Transfers 2,000 Dormant Bitcoins From 2010 in Third Series of Transfers This Month

Publish on 27 March 2024

On March 26, 2024, a well-known entity recognized for its substantial movements of bitcoins from 2010 once again stirred attention in the cryptocurrency community. This entity, previously highlighted numerous times for its significant BTC transactions, initiated another series of movements by transferring 2,000 BTC, valued at approximately $139.9 million at current market rates.

This marks the third occasion in March alone where this entity has conducted such transactions. Earlier in the month, on March 1, it activated 2,000 dormant bitcoins across 40 transactions, followed by another significant movement on March 5, involving the transfer of 1,000 BTC from the same year.

The origin of this entity's bitcoin holdings dates back to at least 2010, with transactions detected as early as March 11, 2020. Notably, its transactions typically involve batches of 1,000 coins, making the recent movement of 2,000 BTC a deviation from its usual spending patterns. 

The transactions observed on March 26 were traced back to block rewards accumulated between August and November 2010, with a total of 40 transactions verified in a single block at block height 836,425. These block rewards, mined between block heights 71,723 and 89,778 in 2010, originated from Pay-to-Public-Key-Hash (P2PKH) addresses and were consolidated into a single Pay-to-Script-Hash (P2SH) wallet labeled as "34WQ7."

Following the consolidation, the bitcoins remained in the collective wallet briefly before being distributed into smaller portions and subsequently transferred to an address associated with Coinbase. Additionally, the bitcoin cash (BCH) linked to these vintage coins was also transferred by March 27.

The string of movements by this notable entity has contributed to the intrigue surrounding vintage bitcoin transactions in the month of March. Despite the age of these coins, the entity continues to make significant waves with its on-chain activities, capturing the attention of the cryptocurrency community with each transaction.

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