U.Today – A 140 BTC address worth more than $8 million today has resurfaced after a decade of inactivity, according to blockchain tracker Whale Alert. The address, dubbed “1BLoHu,” first received 140 BTC in 2013, when it was worth about $107,000.
As mentioned, the transaction from 11 years ago came from another address, “1aWmn,” which also had a remaining balance of 180 BTC. While 140 BTC was transferred to “1BLoHu,” public records show another 40 BTC was transferred to Okcoin.
Today, the latest activity from “1aWmn” involved moving 140 BTC from “1BLoHu” to a fresh address “bc1q66.” The identity of “bc1q66” and the purpose of the transferred funds remain unknown, fueling speculation in the community.
This sudden movement of a significant amount of Bitcoin after such a long period of time has sparked various theories, with some speculating that the original owner may be cashing in on a significant raise in the value of his investment, worth exactly $8 million.
Others theorize that it may be a wealth redistribution strategy or a security measure in response to advances in blockchain analysis techniques.
This is because the move from the older “1” address format to the more state-of-the-art “bc1” format is seen as a step towards improving security and performance. The “bc1” format, also known as Bech32, offers benefits such as better error detection and a more user-friendly structure, which may be the reason for this change.
