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Anonymous Holder From 2010 Shows off 500 Bitcoin on Reddit

The anonymous holder claimed he was a miner between 2010 and 2013, mining multiple blocks of 50 BTC daily.

Avatar image of Elendu Benedict Elendu Benedict•May 13, 2024
hand holding bitcoins

An anonymous Bitcoin legend from 2010 made a rare appearance on Reddit on May 10 to show off his large bags. The unknown holder claimed to have over 5,000 bitcoins after emerging as one of the 13 people who owned between 10,000 and 50,000 BTC in a voting poll.

To prove his claims, the mysterious individual with the Reddit handle “Halfbillion2” displayed one of his cold wallet addresses holding at least 500 bitcoins with a signed Bitcoin message reading, “I am u/halfbillion2 on reddit and this is one of my addresses containing 500 BTC.”

The 500 bitcoins displayed were worth over $30 million at the current market price, and the 5,000 bitcoins the anonymous user claimed to have were worth over $300 million. There are a little above 2,000 wallet addresses holding more than 1,000 bitcoins, placing the user on an exclusive list.

A Committed HODLer

The user claimed he was a miner between 2010 and 2013, mining multiple blocks of 50 BTC daily. Since then, the user has shown outstanding commitment to keeping his bags, although he claimed to “only sell some bitcoins to maintain my crypto holdings to no more than 80% of my net worth.”

This remarkable display of HODLing (a term popular among cryptocurrency enthusiasts, meaning “hold on for dear life”) has placed the anonymous holders among the wealthiest individuals in the crypto space.

The signature key the anonymous user posted was verified and proved legitimate, showing that it was not just a bluff. Further research into the address revealed that it had contained at least 7400 bitcoins before a sell-off.

The anonymous holder’s Reddit message sparked a flurry of reactions within the cryptocurrency community. While some admired the bold move, others voiced concerns over the potential risks. One user, X, went as far as branding the address and signature key display as ‘dangerous,’ suggesting that the whale maintain his anonymity to avoid any complications.

Elendu Benedict

Elendu Benedict is a professional writer with sheer competence in crypto-related journalism. With a background in Engineering, Benedict specialises on news related to ETFs, market analysis, and macroeconomic policies that affects the crypto market.