Monday, September 28, 2020
No menu items!
  • News
  • Bitcoin
  • Blockchain
  • Contact Us
More

    A Bitcoin Whale Holding 68,000 BTC worth $525M Has Not Moved It for 5 Years; Has Possibly Lost Access Forever

    Must Read

    How Man Recovered All His Stolen XRP after Months of Getting Hacked Through Ledger Nano X

    In the cryptocurrency ecosystem, there have been perpetration of hackers, where thousands and millions of dollars were being stolen....

    Cardano (ADA) Is Up and Running Again On Bittrex Exchange

    According to a recent update, Cardano (ADA), the ninth-largest digital currency by market capitalization, is up and running again...

    World Economic Forum: XRP Is The Most Relevant Digital Asset For Wholesale CBDC

    The World Economic Forum (WEF) has characterized the fourth largest digital currency by market capitalization, XRP, has the most...
    Tobi Loba
    Tobi Loba
    Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to fulfill her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.




    As per a report, a Bitcoin whale holding 68,000 BTC worth $525 Million, has not moved it since April 2015, attaining new status as a long-term investor. It also possibly indicates that the holder has lost access to the fortune forever after misplacing private keys.

    The information was shared by CoinMetrics.io, the cryptoasset market and network data APIs, analytics, and research, via its official Twitter handle some hours ago.

    Crypto data channels carefully track how much Bitcoin is moved, so as to assess the health of the network and measure the level of interest among BTC investors.

    The number of long term holders and how long they hold their Bitcoin fortunes will determine the scarcity of the digital asset, as the network advances to its total supply of 21 million BTC.

    CoinMetrics.io Reports Bitcoin Whale Holding 68,000 BTC For 5 Years

    According to CoinMetrics.io, the Bitcoin whale just graduated to a 5-year HODler. It stated that 68,000 BTC moved out of the 5-year active supply band last week, which implies that the last time the whale in question made on-chain transaction was in April 2015.

    “A large Bitcoin whale just graduated to a 5yr HODLer. Last week 68k BTC moved out of the 5yr active supply band, indicating that the last time they moved on-chain was in April 2015” CoinMetrics.io reported.

    Why the Bitcoin (BTC) Whale’s Holdings Remain In Place for Long

    Going by the report of a blockchain data analytics firm, Chainalysis, about 2.3 to 3.7 million BTC are seemingly lost forever, which implies that their owners have lost access to the fortunes by misplacing their private keys.

    In calculation, the number of BTC that are lost forever represent relatively 1/5 of the total market capitalization of Bitcoin. Chainalysis assumes that wallets with BTC that have not effected on-chain transfer since 2014 would forever be inaccessible.

    In conclusion, for 68,000 BTC worth $525 million to remain unmoved for 5 years, two things could be involved. The Bitcoin whale is either holding the fortune as a long term investor, or he has simply lost the access to the huge fortune forever.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    How Man Recovered All His Stolen XRP after Months of Getting Hacked Through Ledger Nano X

    In the cryptocurrency ecosystem, there have been perpetration of hackers, where thousands and millions of dollars were being stolen....

    Cardano (ADA) Is Up and Running Again On Bittrex Exchange

    According to a recent update, Cardano (ADA), the ninth-largest digital currency by market capitalization, is up and running again on the cryptocurrency exchange, Bittrex. In...

    World Economic Forum: XRP Is The Most Relevant Digital Asset For Wholesale CBDC

    The World Economic Forum (WEF) has characterized the fourth largest digital currency by market capitalization, XRP, has the most relevant crypto asset for wholesale...

    Cardano (ADA), Tezos (XTZ) Are Technologically Superior to Bitcoin and XRP –Weiss Ratings

    Weiss Crypto Ratings, the provider of independent ratings of digital currencies, has recently stated that Cardano (ADA), Tezos (XTZ), and ten other digital assets...

    Speculation among XRP Investors on Ripple Announcing More Notable Acquisitions Following CEO’s Statement

    There has been a growing speculation among the XRP community members that says that Ripple, the cross-border payment firm, is on the verge of...

    More Articles Like This