A mysterious Bitcoin whale has resurfaced, transferring 1,000 BTC mined in 2010—worth approximately $68 million at the time of the transaction—along with their corresponding Bitcoin Cash (BCH) holdings. This marks yet another movement in a series of similar transactions dating back to 2020.
The 2010 Bitcoin Whale: A Timeline of Activity
Our investigation reveals this entity has been actively spending 20-block reward chains since March 2020, following these key dates:
- March 12, 2020 (Black Thursday market crash)
- October–December 2020: Multiple transfers
- January 2021: Bitcoin's 12th Anniversary transfer
- June 9, 2021: Previous major movement
- November 10, 2021: Latest 1,000 BTC transfer
Blockchain analysis shows these coins were:
- Originally mined August–October 2010
- Transferred at BTC block height 709,029
- Accompanied by BCH movement at block height 713,430
👉 Discover how blockchain analysis tools track these movements
Patterns in the Whale's Behavior
Consistent Transaction Structure:
- Always spends 20-block reward chains
- Follows identical BTC/BCH transfer patterns
- Distributes funds into 10 BTC wallets
Possible Destinations:
- Escrow accounts
- VIP exchange clients ("virgin bitcoins")
- Withdrawal pockets (10 BTC lots)
"The distribution pattern suggests institutional handling," noted the creator of Btcparser.com. "These could be escrow transfers or exchange preparations."
The Value of 'Virgin Bitcoins'
Key characteristics of these special coins:
- Never associated with previous transactions
- Rumored to fetch 20%+ premiums
- Highly sought after by institutional buyers
| Metric | Value (Nov 10, 2021) |
|---|---|
| 1,000 BTC | $68.4 million |
| 1,000 BCH | $712,070 |
👉 Learn why institutional investors value early-mined Bitcoin
Frequently Asked Questions
Q: Was this BTC actually sold?
A: Not necessarily—the owner may have simply moved their holdings between wallets.
Q: Who could this whale be?
A: Likely an early miner, but identity remains unknown despite years of blockchain analysis.
Q: Why move coins after 11 years?
A: Possible reasons include estate planning, exchange listing preparations, or institutional custody transfers.
Q: How are these coins tracked?
A: Through blockchain forensics tools that analyze transaction patterns and block reward histories.
The Future of These 'Sleeping Bitcoins'
While the ultimate purpose behind these movements remains unclear, analysts note:
- The methodical distribution suggests professional management
- The timing coincides with institutional adoption milestones
- Future movements will likely follow this established pattern
As Bitcoin continues to mature, these early-mined coins represent a fascinating case study in long-term holding strategies among Bitcoin's earliest adopters.