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$1 Billion Bitcoin Wallet on the Move

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Bitcoin wallet

Bitcoin (BTC) enthusiasts from around the world are watching in shock as the old Bitcoin wallet sees new activity after years of being dormant. The wallet, which is in possession of over $1 billion in BTC, is now sending coins to at least two exchanges.

Dormant Bitcoin wallet awakens

All around the world, coin-holders, investors, and even regular crypto enthusiasts are speculating regarding the new activity in an old Bitcoin wallet.

The Bitcoin wallet, which was dormant for more than 4 years, is waking up, and threatening to disrupt the market’s fragile balance. Many are already in a state of panic since the movement might mean that a giant dump is about to happen.

The address was supposedly founded back in 2011, on July 2nd. Since then, it did not move its coins until March 2014. Back then, there was a certain activity, as the owners of the wallet stated splitting their BTC supplies into smaller chunks. Recently, however, around 15,593 BTC was sent to Bitfinex and Binance, while 210 BTC ended up on Bitmex.

Who is behind it?

One of the biggest mysteries regarding the address may very well be its owner. One Reddit user going by sick_silk has been speculating a lot regarding who might be behind the address.

According to him, this may be the Dread Pirate Roberts of Silk Road fame. However, it is just as likely that the owner may be connected to Mt. Gox or the hackers that hit the exchange. One theory even suggests that this might be Satoshi Nakamoto.

What IS known is that at least one, relatively small, transaction from this address was connected to a Bitcoin drug bazaar called Silkroad. Because of this, many agree with sick_silk, believing that Dread Pirate Roberts is behind it.

Additionally, since the address first appeared around MT Gox’s hack, many also claim that the address might belong to Gox. Even its former owner, Jed McCaleb, is one of the “suspects”. However, both entities deny having anything to do with it.

Finally, the theory that Nakamoto is behind it lies in the fact that the address started in 1933. This was the year when the US President Franklin Roosevelt decided to give out the order to confiscate gold.

Nakamoto even announced his birthday as April 5th, 1975, which is when this order was withdrawn. This is why Nakamoto is believed to be behind the recent activities. Although, as many have pointed out, the fact that the address begins with 1933 might merely be a coincidence.

Obviously, any of these theories might be true, but just as easily — they might all be false. Simply put, nobody knows. The only thing that is known is that the address moved its funds in March 2014, just when MT Gox declared bankruptcy. Since then, the coins were broken into smaller and smaller chunks, and some of them started reaching different exchanges recently.

According to one unverified analysis, around 11,114 BTC already reached Bitfinex, with 4,421 being sent to Binance. Additionally, Bitmex received a smaller shipment of 210 BTC.

Because of this, many are panicking and fearing that the BTC price will go down just as stability has finally been restored. The new move will definitely raise some amount of chaos, and it will be interesting to see how will everything resolve.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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