Silent $8 Million Bitcoin Whale Awakens and Takes Action

An address holding 140 BTC, valued at over $8 million, has come back into activity after remaining dormant for a decade, as reported by blockchain tracker Whale Alert. The address, referred to as “1BLoHu,” originally received the 140 BTC in 2013 when the amount was worth approximately $107,000.

The transaction that took place 11 years ago originated from another address known as “1aWmn,” which still retains a balance of 180 BTC. In addition to the 140 BTC sent to “1BLoHu,” records indicate that another 40 BTC were transferred to Okcoin.

Recently, the once-dormant 140 BTC was moved from “1BLoHu” to a new address, “bc1q66.” The identity of this new address and the purpose of the transferred funds remain unclear, leading to speculation within the cryptocurrency community.

The sudden transfer of such a substantial amount of Bitcoin after a long period has led to various theories. Some believe the original owner might be looking to cash in on the significant appreciation of their investment, now valued at $8 million.

Others speculate it could be a strategy for wealth redistribution or a precautionary measure in response to advancements in blockchain analysis techniques. The transition from the traditional address format starting with “1” to the newer “bc1” format is seen as a move aimed at enhancing security and efficiency. The “bc1” format, known as Bech32, provides benefits such as improved error detection and a more user-friendly structure, which could explain the decision to move the funds.