It's been a surprising month for Bitcoin and certain altcoins, which a gaining more value and could soon beat even the previous All-time-high (ATH) prices, with Bitcoin going to $16,000. But this aren't the only surprises on the month!
It seems that the whales are preparing their assets to sell them on market as more Satoshi-era Bitcoins are being moved from one wallet to another one, with moves of more than $30M worth in the asset. Recently, precisely in Friday the first movement of this Satoshi-era Bitcoins was spotted by a user on LinkedIn and it was a 50 Bitcoins transfer worth in actual prices over $700,000 moved for the first time since 2010 to a single wallet.
This bitcoins moved on Friday and posterior in the next days where mined on the time when Satoshi Nakamoto was still in contact with the crypto community and never moved since 2010 when they were worth less than $0.10 cents.
More moves from this Bitcoins mined on Satoshi-era happened, with a transfer of 50 Bitcoins on Saturday that were on sleeping mode since 2010.
On the same Saturday night a total of twenty wallets moved more Bitcoins from this Era, and 1000 Bitcoins- worth $15M transferred to a single wallet address. That's wasn't the end, on Sunday the exact same thing happened with twenty wallets holding thousand Bitcoins moving again to a single wallet, summarize more than $30M worth in Bitcoins just moved on the last weekend, Bitcoins that were on dormant account since 2010.
It's impossible to say why the movement is happening right now or what is the reason to make them, but assuming that the price of the asset right now i can bet a possible preparation to sell them, in portions to take from them. The owner of this coins is a strong holder who bought them when they were cheap, less than 0.10 cents of a dollar and ten years later he has more than $30 millions laying off in his wallet. He may want to take those profits and earn astonishing profits from his holdings.
This isn't the only move from Bitcoins of Satoshi-era, in October more of this bitcoins were moved and more could still happening in the future, there are dormant wallets with astonishing bitcoins on them and anytime could be "awakened" by their owners and feed exchanges with them, which somehow is good as the reward from mining Bitcoins have reduced but the demand of the assets still got a lot of acceptance with more investors and institutional money coming from the Crypto market.
Bitcoin have become the world best store of value, mostly because their scarce feature and a crescent demand for an environment who can combat the inflation, companies and individuals are investing more in Bitcoin and seems that they are making more than expected with their investments. If we take for example the case of MicroStrategy Company, who invested more than $425M in Bitcoin right now after only three months gained more than 21% in profit from the investment, to note that they made Bitcoin as their primary reserve fund.
Also the Company from the CEO of Twitter Jack Dorsey made a big investment of $50 million and already made profit. It's clear that Bitcoin will be more chosen asset to put money into as predictions put the asset in $100K per coin in the end of 2021.
And you what you think about this recent moves from Satoshi-era Bitcoins?!
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Take care and have a nice day.
Wow sir.. That's quite great. I don’t know much. I'm a newbie in readcash. I hope I'll learn more about crypto-currencies