Bitcoin Owner, Who Has Been Inactive for Five and a Half Years, Earned Half a Billion Dollars

A Bitcoin wallet that had been dormant for more than five years was activated after many years.

The address that bought BTC when the price of Bitcoin (BTC) was only a few thousand dollars traded again in the evening hours today.

More than half a billion dollars

According to the post of Blockchain analysis platform Lookonchain, an address that has been inactive for 5.5 years sent 8 thousand Bitcoins to Binance, the world's largest cryptocurrency exchange, today afternoon.

According to BitInfoCharts data, the transaction took place at 16:26 Türkiye time. The total value of Bitcoins sent to Binance was $536 million at the time of the transaction.

According to blockchain records, these Bitcoins were sent to the address owner on December 6, 2018. Bitcoin price was an average of $3,810 at that time. According to CoinGecko, Bitcoin is trading at just over $66,800 at the time of writing.

Bitcoin broke the price record until that date by approaching 20 thousand dollars in December 2017. The price of Bitcoin declined throughout 2018 during the bear market period that started thereafter. Bitcoin could not exceed $10,000 for about a year.

According to BitInfoCharts data, the owner of this wallet earned $505.6 million with the rise of the Bitcoin price over the years. It is unknown who owns the address.