U.Today – A new shockwave hit the cryptocurrency market when, as it became known thanks to a report by Whale Alert, an unknown former (BTC) miner woke up after more than 10 years of hibernation.
Address “14CZ9” transferred 19 BTC, which at current prices is worth over a million dollars, to address “bc1qw6”. However, these coins did not go anywhere else and are still stored at the new address.
The former Bitcoiner's first transactions were made 11 years ago, on November 28, 2013. At the time, the price of the cryptocurrency was just over $1,000.
However, the price per BTC continued to fall, but the unknown investor continued to accumulate. By June 2014, he had accumulated 19 BTC, which by those standards was just over $12,500.
Years later, this volume of cryptocurrency is estimated at over a million dollars, and the total profit can be estimated at 8,692%. This means that our unknown miner achieved an average return of 870% per year of ownership.
The fact that this is a miner is indicated by the way the funds were partially transferred to the unknown investor's wallet, as well as the fact that he received part of his Bitcoin from a CoinJoin address, a protocol that combines multiple transactions from different sources and senders into one.
Such awakenings are rarely met with applause in the crypto community, where the consensus view among market participants is that old Bitcoin addresses are awakening primarily to secure gains on their coins, often amounting to thousands of percent.
If we take into consideration the mantra of “the glass is half full”, then perhaps this investor has woken up to transfer his BTC to a new address “bc1”, which is considered more advanced and secure.
This article was originally published on U.Today
