- An entity with eight wallets founded in 2013 moved 200 BTC worth $13.87 million, according to data from June 3. The assets had been sitting dormant for more than 11 years.
- These bitcoins have gained in value by 197,785% since they were acquired, if they were sold today.
Investing $200 in Bitcoin Shows Past Transactions From 2013
A bitcoin (BTC) owner who started investing in the currency in early 2013 spent $200 BTC on Monday, which, according on exchange rates as of June 3, 2024, is worth $13.87 million.
The bitcoins were purchased between the middle of February and the end of March 2013, at a price of $25 to $35 per coin. This indicates that the funds’ initial valuation, at the peak of the Bitcoin market at the time, was approximately $7,000.
The owner has witnessed a 197,785% increase in the value of the coins relative to the US dollar, with a current worth of $13.87 million.
The money was moved to two different Pay-to-Script-Hash (P2SH) wallets, and all eight addresses were Pay-to-Pubkey-Hash (P2PKH) wallets in the traditional manner. At the current exchange rate, each wallet sent slightly more than 25 BTC, or $1.7 million.
The money is still in these wallets as of this writing, and the data from the new wallets reveals past activity that included idle bitcoin transactions between March and January of 2024.
According to information gleaned from btcparser.com and one address, this same entity is probably in charge of eight different 2013 transactions that took place on March 13, 2024. This is because the forwarding wallet contained those as well.
The transactions that day all involved transfers of 25 Bitcoin, identical to the most recent spend. When a separate wallet was formed on January 10, 2024, it displayed a different pattern, with one transaction adding 199.99 BTC and the funds being paid out the following day.
The customer purchased an additional 199.99 BTC on February 11, 2024, then three days later, on February 14, 2024, they moved it out.
Furthermore, on March 1, 2024, the same entity initiated eight transfers totaling slightly more than 25 BTC apiece, all in accordance with this exact same pattern. Additionally, 200 bitcoins from 2013 were moved in this transaction, which was their first activity in more than a decade.
These trends and previous exchanges demonstrate that the 200 BTC shift on June 3 suggests the owner has more early-era vintage coins. It is clear from the activity in just two wallets that the entity possessed or still possesses 1,000 BTC valued at $69.2 million, the majority of which came from BTC acquired in 2013.
Having 1,000 BTC or more puts the entity in the “whale” category. In addition to recurring spending patterns and heuristics, a quick onchain analysis has shown a significantly larger holding than the eight spends on Monday initially suggested.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
