As I was looking over the markets this morning - following the recent Bitcoin price plunge - I stumbled upon an interesting investigation. A reddit user going by the name of sick_slick posted 3 days ago a story about a dormant Bitcoin wallet with 110,000 BTC in it that just became active during the last month.
For those interested in the full story, here's the link, but for those really impatient, here's the short version:
- the wallet became active about a month ago
- it started to send coins to multiple wallets, splitting them until any address had around 100 BTC in each
- a lot of tokens (about 15,000 BTC) were sent to Bitfinex and Binance
Now, there are many potential scenarios about this thing, but if the recent plunge in Bitcoin price was somehow the result of this wallet dumping at the market price, then I think we should expect more.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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