True. But the initial transfer was for 40k BTC. You don't just drop 40k BTC in a wallet even back in 2011 unless its intended for long term storage or you intend to spend it (Which he didn't). I think this was intended as long term cold storage and as bitcoin increased in value so did this wallet's value
Cold Storage is a very good point.We also don't know that this is the ONLY wallet, or if he had other investments in BTC (who knows how much he lost in the GLBSE madness) or to (the other) pirate
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