A dormant wallet containing 1,000 Bitcoins transferred more than $60 million in value for the first time in nearly 12 years on Sunday.
A dormant wallet containing 1,000 Bitcoins transferred more than $60 million in value for the first time in nearly 12 years on Sunday.
The wallet received BTC 11 years and 9 months ago, onchain data shows, and had yet to make an outgoing transaction until Sunday, at which point the wallet sent 1,000 BTC to a new address. However, according to Blockchaincom data, this transaction was first published on January 19, 2024.
Bitcoin rose, whales moved
When the wallet acquired BTC, first spotted by onchain platform Whale Alert, the assets were worth just $12,100, according to historical price data. After holding for approximately twelve years, the wallet saw an increase of approximately 500,000 percent in the value of the coins.
The reason for the transfer and the identity of the owner of the wallet are still unknown. However, when the transaction was first broadcast on the network, the assets were valued at approximately $41.6 million. The delay between when the transaction is published and when it is actually mined means that bitcoin is now worth around $20 million more due to the increase in Bitcoin price.
Just ten days ago, another wallet that had been dormant for over twelve years awoke and transferred nearly $7 million.
On May 12, 1,000 BTC worth more than $60 million was moved for the first time in 10 years. This was followed by a shipment of 687.33 BTC worth more than $44 million moved for the first time in 10 years, just a week ago.
In March, the fifth-richest address on the Bitcoin blockchain, which has been dormant since 2019, moved $6 billion. Another organization also consolidated $140 million worth of bitcoin mined in 2010 into a single wallet in the same month.
