From Investing.com: 2024-07-07 14:00:20

A long-dormant address holding 140 BTC worth over $8 million has resurfaced after 10 years. It first received 140 BTC in 2013 when Bitcoin was valued at $107,000. The funds were transferred from another address, “1aWmn,” with 180 BTC, sparking speculation in the community about the motives behind the recent activity.

The address “1aWmn” moved the 140 BTC from “1BLoHu” to a new address “bc1q66.” The identity of “bc1q66” and the purpose of the transferred funds are unknown. The sudden movement of a significant amount of Bitcoin after years of inactivity has led to various theories among experts and enthusiasts.

Speculation suggests the original owner could be cashing in on the substantial increase in value. Others believe it may be a strategy for wealth redistribution or a security measure against advances in blockchain analysis. The shift to the more secure and efficient “bc1” format from the legacy “1” format could be a reason for the transfer.

The move to the “bc1” format, known as Bech32, provides better error detection and a more user-friendly structure. This shift may indicate a move towards improved security measures. The exact reasons behind the transfer and the identity of the new address holder remain a mystery, fueling curiosity and speculation in the cryptocurrency community.

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