Long-dormant Bitcoin wallet transfers over $30 million after 11 years

TL;DR Breakdown

  • A Bitcoin wallet that had been inactive for over 11 years suddenly transferred its entire stash of over 1,037 Bitcoin, valued at approximately $31 million.
    The sudden activity has sparked intrigue in the cryptocurrency community, with speculation about the identity and motives of the wallet’s owner, often referred to as a ‘Bitcoin whale’.
    The transaction underscores the potential rewards for early adopters and long-term holders of Bitcoin, despite the volatility and risk associated with cryptocurrencies

Description

A Bitcoin wallet that had been dormant for over 11 years has suddenly sprung to life, transferring its entire stash of over 1,037 Bitcoin, valued at approximately $31 million at current prices, according to BitInfoCharts. The wallet, which had been inactive since April 2012, when Bitcoin was valued at less than $5, made the transaction … Read more

A Bitcoin wallet that had been dormant for over 11 years has suddenly sprung to life, transferring its entire stash of over 1,037 Bitcoin, valued at approximately $31 million at current prices, according to BitInfoCharts. The wallet, which had been inactive since April 2012, when Bitcoin was valued at less than $5, made the transaction on July 22, 2023.

The Bitcoin wallet’s sudden activity has sparked intrigue in the cryptocurrency community. The wallet’s owner, who remains anonymous, had acquired the 1,037 Bitcoin in mid-April 2012, when the digital asset’s price was just $4.92, according to Lookonchain on July 22. However, the value of the stash has since increased by over 600,000%, reflecting the meteoric rise of Bitcoin over the past decade.

The mystery of the Bitcoin whale

The transaction was made to a new wallet address, identified by the abbreviation “bc1qt180”. The original wallet’s balance had peaked at $71.6 million when Bitcoin reached its all-time high of $69,044 in November 2021. The sudden movement of such a significant amount of Bitcoin has led to speculation about the identity and motives of the wallet’s owner, often referred to as a ‘Bitcoin whale’ due to the size of their holdings.

The transaction has also raised questions about the timing of the move. Some observers have noted that the wallet’s owner could have maximized their profits by selling when Bitcoin was at its all-time high. Others have speculated that the owner may have lost access to their private keys or been temporarily hacked.

This is not the first time a long-dormant Bitcoin wallet has made headlines. In April 2023, another Bitcoin address transferred 2,071 BTC, worth over $60 million at the time, nearly a decade after acquiring the digital currency. 

Crypto whales are actively transferring cryptocurrencies from one address to another nowadays in the crypto market. A few weeks ago, a dormant pre-mine address containing 61,216 ETH (116,396,127 USD) was activated after 8 years of dormancy, Cryptopolitan reported.

The reactivation of dormant crypto wallets can significantly affect the cryptocurrency market. Large transactions like these can influence the price of cryptocurrencies, and the sudden movement of long-inactive wallets can create uncertainty and speculation among investors.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Long-dormant Bitcoin wallet transfers over $30 million after 11 years

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月24日 19:13
Next 2023年7月24日 20:07

Related articles

  • Terra’s new CEO reveals bold plan to salvage Company

    TL;DR Breakdown Terraform Labs, the blockchain Company known for its stablecoin TerraUSD (UST), has appointed Chris Amani as its new CEO, succeeding the co-founder Do Kwon.  Amani spoke to journalists about the company’s future plans, emphasizing that the Company will not be launching any stablecoins but rather shifting its focus toward other product offerings. Description In light of recent events, Terraform Labs, the blockchain Company known for its stablecoin TerraUSD (UST), has appointed Chris Amani as its new CEO, succeeding the co-founder Do Kwon. The company made this decision while Kwon remains the principal shareholder of Terra, despite facing possible extradition to South Korea or the United States. Chris Amani, … Read more In light of recent events, Terraform Labs, the blockchain Company known for its stablecoin TerraUSD (UST), has appointed Chris Amani as its new CEO, succeeding the co-founder Do Kwon. The company made this decision while Kwon remains the principal shareholder of Terra, despite facing possible extradition to South Korea or the United States. Chris Amani, an American citizen, has been with Terra since 2021, holding positions as…

    Article 2023年7月21日
  • U.S. recession could be great for markets -How?

    The anticipation of a U.S. economic recession, which might seem counterintuitive at first, could, in fact, avert a significant market downturn in the latter half of 2023. Michael Yoshikami, the founder and CEO of Destination Wealth Management, presents this interesting viewpoint. This article investigates the rationale behind Yoshikami’s prediction and the broader market implications. Counterintuitive as it may seem: A potential recession as the market’s lifeline Consumer price inflation in the U.S. reduced to 4.9% on a yearly basis in April, the most sluggish annual pace since the same month the previous year. This latest data from the Labor Department was widely received as an encouraging indicator that the Federal Reserve’s strategic measures to control inflation are making progress. However, the core Consumer Price Index (CPI), which doesn’t account for variable food and energy prices, exhibited a 5.5% increase annually in April. This happened against the backdrop of a robust economy and a persistently strained labor market. Despite the CPI witnessing a substantial cool-off since it hit an apex of 9% in June 2022, it continues to hover significantly above…

    Article 2023年5月29日
  • ICP price analysis: ICP shows bullish potential at $3.891

    TL;DR Breakdown ICP price analysis is bearish today. The strongest resistance is present at $5.340. The trading price of ICP is $3.891. ICP price analysis on June 13, 2023, an analysis of the price of Internet Computer (ICP) indicated a noticeable bullish trend, implying an upward trajectory for the cryptocurrency as a result of favorable momentum in the market. Over the span of several hours, the price of ICP demonstrated consistently high levels and experienced a sudden surge from $3.663 to $3.762. Moreover, there were indications of further growth in the market, as ICP managed to increase its value, reaching $3.891 and coming close to the $4 mark. This development signifies a positive outlook for ICP’s market capitalization. As of today, June 13, 2023, the price of Internet Computer (ICP) stands at $3.89, with a 24-hour trading volume of $66.93M. The market capitalization of ICP is estimated at $1.70B, contributing to a market dominance of 0.16%. Over the past 24 hours, the price of ICP has experienced a positive increase of 5.78%. Currently, the sentiment for Internet Computer’s price prediction…

    Article 2023年6月16日
  • Gold prices in Japan soar past 10,000 yen per gram amid economic uncertainty

    TL;DR Breakdown On Tuesday, the retail cost of gold in Japan crossed the 10,000 yen ($68.31) per gram mark for the first time, reaching 10,001 yen per gram. Japanese yen depreciation against the U.S. dollar continues due to Fed credit control, rising interest rates, and rising gold prices. Description On Tuesday, the retail cost of gold in Japan crossed the 10,000 yen ($68.31) per gram mark for the first time, reaching 10,001 yen per gram on that day, marking a 28 yen surge from the previous day’s price. The value of gold in yen has been climbing due to the yen’s decline against the … Read more On Tuesday, the retail cost of gold in Japan crossed the 10,000 yen ($68.31) per gram mark for the first time, reaching 10,001 yen per gram on that day, marking a 28 yen surge from the previous day’s price. The value of gold in yen has been climbing due to the yen’s decline against the dollar. This rise is linked to a rising desire for gold as a secure investment, prompted by worries…

    Article 2023年8月29日
  • Ankr revolutionizes Web3 with its new Ultra Sound Infrastructure

    TL;DR Breakdown Ankr introduced Ultra Sound Infrastructure to Web3 developers to provide high-performance connections to blockchains globally.  The Ultra Sound Infrastructure provides a globally distributed network of nodes from a number of node provider partners, such as Microsoft and Tencent Cloud. The initiative is aligned with Ankr’s mission to onboard the next billion users to web3. Description Since the Bitcoin boom, blockchain technology has spread to other industries, including Web3, and Ankr has profited immensely as a result. Despite the fact that Web3 infrastructure is still in its infancy, many businesses are looking into the future of databases. With that in mind, Ankr’s new Ultra Sound Infrastructure could be a game-changer for … Read more Since the Bitcoin boom, blockchain technology has spread to other industries, including Web3, and Ankr has profited immensely as a result. Despite the fact that Web3 infrastructure is still in its infancy, many businesses are looking into the future of databases. With that in mind, Ankr’s new Ultra Sound Infrastructure could be a game-changer for decentralized applications (dApps). Ankr graces the crypto – Web3 market…

    Article 2023年7月12日
TOP