Friday, January 21

Bitcoin Holder turns R$22,000 into R$266 million after 10 years

Large dormant bitcoin movements marked this last Wednesday (29). Although they are different portfolios, in a short period, a holder moved 1,000 BTC stopped for more than 10 years, transforming around 22,000 reais into around R$266 million.

Apparently, this holder was a Bitcoin miner at the beginning. We can say this due to blockchain transparency which shows that these two balances of 500 BTC, totaling 1000 BTC, are the result of a consolidation of 20 transactions of 50 BTC. This was the block reward at the time.

However, it’s hard to know exactly who this guy is, after all, pseudo-anonymity provides Bitcoin users with a certain amount of privacy.

Bitcoin Holder “Diamond Hand”

While many early Bitcoin users have spent what would become a fortune these days, such as Laszlo who bought two pizzas for 10,000 BTC, others have held back the excitement and still have their coins.

This is the case that occurred yesterday when a holder moved their Bitcoins for the first time in over 10 years. As of July 7, 2011, the BTC was trading for 14.38 USD per unit, and each USD for 1.56 BRL. In other words, the holder turned R$22,430 into R$266 million simply for believing in the BTC.

“A dormant address containing 500 BTC (23,733,648 USD) was activated after 10.5 years”

“A sleeping address containing 500 BTC (23,665,502 USD) was activated after 10.5 years”

Well, it’s worth noting that he must have sold other bitcoins, as well as the iconic “pizza man” who also didn’t spend all of his own, after all Laszlo wasn’t just anyone.

In any case, maintaining 1,000 BTC since 2011 after the 2013, 2017 and 2021 highs is somewhat unusual. That’s because this holder had already become a millionaire, in dollars, many years ago with these 1,000 BTC.

Who is this whale with millions?

Although the blockchain gives us clues due to its transparency, it’s hard to know who the real owner of these 1,000’s of bouncing is hard after ten years.

According to the website Nakamoto Observer, most bitcoin miners between 2010 and 2012 are unknown. The closest ones are the pizza guy, mentioned above, and the user “allinvain”, who lost 25,000 BTC at the time, today equivalent to 6.6 billion reais.

Miners at the beginning of Bitcoin. Source: Nakamoto Observer

Finally, although the identity of the millionaire is a mystery, the fact that he supported Bitcoin in its infancy, when no one used it, makes him deserving of this fortune, showing that he can remain involved after years with the community.

Leave a Reply

Your email address will not be published. Required fields are marked *