A Bitcoin address, holding 140 BTC (worth more than $8 million today), has reemerged after a decade of inactivity, according to blockchain tracker Whale Alert. This address, known as "1BLoHu," first received the 140 BTC in 2013, back when it was valued at about $107,000.
Origin of the Transaction
The transaction from 11 years ago originated from another address, "1aWmn," which still had a remaining balance of 180 BTC. While 140 BTC were transferred to "1BLoHu," public records show that an additional 40 BTC were sent to Okcoin.
Recent Activity
Recently, "1aWmn" transferred the dormant 140 BTC from "1BLoHu" to a new address, "bc1q66." The identity of "bc1q66" and the intended use of the transferred funds remain unknown, leading to much speculation within the community.
Community Speculation
The sudden movement of such a significant amount of Bitcoin after a long period has sparked various theories. Some believe the original owner may be cashing in on the substantial appreciation of the investment, now worth $8 million.
Others theorize it could be a wealth redistribution strategy or a security measure in response to advances in blockchain analysis techniques.
Security and Efficiency
The shift from the legacy address format "1" to the more modern "bc1" format is seen as a move toward improved security and efficiency. The "bc1" format, also known as Bech32, offers benefits such as better error detection and a more user-friendly structure, which might explain the move.
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