Bitcoin Whale Wallets Transfer $61M in BTC After 10 Years

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As a researcher with a background in blockchain technology and digital currencies, I find this recent development of two dormant Bitcoin wallets coming to life after over 10 years intriguing. With a value of $61.2 million, these wallets represent significant holdings from the early days of Bitcoin.

As a long-term Bitcoin investor, I stumbled upon an intriguing development. Two of my dormant wallets, which had been inactive for over a decade, suddenly sprung back to life. These wallets contained a combined total of 1,000 Bitcoins, currently valued at an astonishing $61 million based on current market prices.

As an analyst, I’ve come across two dormant Bitcoin wallets with a combined balance of 1,000 $BTC, equivalent to approximately $60.9 million at current prices. In the past 20 minutes, all funds have been transferred out from these wallets. Wallet “16vRqA” was last active on September 13, 2013, when it received a transaction of 500 $BTC, worth around $62,000 at the time, with a Bitcoin price of $124. Similarly, wallet “1DUJuH” received a similar amount of 500 $BTC on September 12, 2013, when the Bitcoin price stood at the same level.— Lookonchain (@lookonchain) May 12, 2024

On May 12, the initial digital wallet transferred its 500 Bitcoins. Subsequently, another wallet moved just two blocks away and made a similar transaction. They had acquired these Bitcoins back in 2013 when each coin was priced at $134. Now, their combined holdings are worth an impressive $61.2 million. While one wallet swiftly dispersed its Bitcoin to various recipients, the other wallet remains steadfast in retaining its share.

As a blockchain analyst, I have identified a noteworthy occurrence involving two Bitcoin wallets. Previously listed among the top 4,353 holders, these wallets were observed to have executed transactions that appeared related, indicating they might be controlled by the same entity. This discovery follows a significant 687 Bitcoin transfer from an early-era wallet, which has piqued my curiosity regarding the potential motivations behind the actions of dormant wallets in the Bitcoin network.

As an analyst, I’ve uncovered some fascinating data in the Bitcoin community: approximately 1.8 million addresses have been dormant for over a decade, housing around $121 billion in Bitcoin, not including Satoshi Nakamoto’s wallet. The possibilities surrounding this discovery are vast – from these early adopters selling their stash to safeguarding their wealth in non-custodial wallets.

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2024-05-13 08:53