Bitcoin Address Holding 140 BTC, Worth More Than $8 Million Today, Reemerges After a Decade of Inactivity

The address, dubbed "1BLoHu," first received 140 BTC in 2013, when it was worth about $107000.

A Bitcoin address created in 2013 and holding 140 BTC, currently valued at over $8 million, has become active again after a decade of dormancy, blockchain tracker Whale Alert reported. The address, labeled "1BLoHu," initially received the 140 BTC in 2013 when they were worth around $107,000.

The transaction, which occurred 11 years ago, involved another address, "1aWmn," that had a remaining balance of 180 BTC. While 140 BTC were moved to "1BLoHu," public records indicate that an additional 40 BTC were transferred to Okcoin.

Now, in the latest development, "1aWmn" has moved the dormant 140 BTC from "1BLoHu" to a new address, "bc1q66," as reported by Whale Alert. The identity of "bc1q66" and the intended purpose of the transferred funds remain不明, leading to speculation among the crypto community.

The large-scale movement of Bitcoin from an address that has been inactive for an extended period has ignited various theories. Some suggest that the original owner might be cashing in on the significant appreciation of their investment, which is now valued at $8 million.

Others speculate that it could be a strategy for wealth redistribution or a security measure in response to advancements in blockchain analysis techniques.

This is because the shift from the legacy address format "1" to the more modern "bc1" format is seen as a move toward improving security and efficiency. The "bc1" format, also known as Bech32, offers benefits such as better error detection and a more user-friendly structure, which could be reasons for the move.

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