RATE Group | Bitcoin whale sent $600 million in BTC to exchanges in 2017, shows research
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Bitcoin whale sent $600 million in BTC to exchanges in 2017, shows research

28 Sep Bitcoin whale sent $600 million in BTC to exchanges in 2017, shows research

Posted at 20:56h in Bitcoin News by

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Antoine Le Calvez, the creator of p2sh.info and forks.network, recently revealed on Twitter the results of his analysis of spending patterns in the early blocks of Bitcoin [BTC]. The analysis revealed that there was a miner who was active on the Bitcoin network who mined from December 2009 onwards.

Out of the BTC that he mined, around 30,000 were sent to exchange platforms from December 2016 to January 2018. At current prices, this is worth around $199.8 million. However, in December of last year when the price of Bitcoin was at its all-time high, the stash would have been worth around $600 million.

Graph posted by Antoine Le Calvez | Source: Twitter

Graph posted by Antoine Le Calvez | Source: Twitter

Calvez discovered this data by plotting the spent Bitcoins from each block, starting from January 2009, which was when the first Bitcoin block was mined. It extends until the month of April in 2010. The height of the graph represents the block from which the Bitcoin was spent.

The movement was also suspicious, as it…

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