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Bitcoin Whale Emerges After Decade, Moves $8 Million Worth of BTC
A Bitcoin address holding 140 BTC, valued at over $8 million today, has surfaced after a decade of dormancy, as reported by blockchain tracker Whale Alert. Initially receiving 140 BTC in 2013 from another address, “1BLoHu,” the recent activity saw the funds transferred to a new address, “bc1q66,” from the original source, “1aWmn.”
The identity and intentions behind the transfer to “bc1q66” remain undisclosed, sparking speculation within the cryptocurrency community. Some suggest it could be an opportunistic move to capitalize on the significant appreciation of Bitcoin’s value, while others speculate on strategic wealth distribution or enhanced security measures due to advancements in blockchain technology.
This shift from the legacy address format “1” to the modern “bc1” format, known as Bech32, is seen as a step towards improved security and operational efficiency in cryptocurrency transactions.
The original article was published on U.Today.
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