Major Update: Dormant Fifth-Largest Bitcoin Wallet Activates After 5 Years 🐳
Envision someone with an astonishing 94,500 Bitcoins, ranking them as the fifth-largest Bitcoin holder globally. This major player has suddenly reemerged after a five-year hiatus. Arkham Intelligence reports that this wallet, currently valued at an astounding $6.6 billion, has recently shown activity again.
Back in 2019, this wallet received a substantial amount of Bitcoin, now valued at $6.6 billion. It lay untouched until this past weekend when the wallet's contents were redistributed and transferred to new wallets. The original wallet now holds a mere 1.4 Bitcoins, with the bulk distributed among three new wallets, one of which contains Bitcoin worth $5 billion.
The wallet's owner bifurcated the holdings, directly transferring one portion to a new wallet and splitting the remainder between two others. This redistribution of the 94,500 Bitcoins solidifies the owner's position among the world's top Bitcoin holders.
Miguel Morel, CEO of Arkham, noted that while most large Bitcoin wallets are associated with institutions or exchanges, this one has remained inactive and unlinked to any exchange activities.
The activity of this wallet marks a significant event, given it's the first major action by a single wallet in recent times. Previously, there were minor movements, such as an anonymous wallet transferring 27 Bitcoins to Satoshi Nakamoto's address in January 2024, and in November 2023, three other dormant wallets transferred about 7,000 Bitcoins to Bitfinex.
Despite these intriguing developments, the price of Bitcoin remains relatively stable, hovering around $70,000. Read more...