HomeBitcoinBitcoin whale wallets transfer $61 million in BTC after ten years of...

Bitcoin whale wallets transfer $61 million in BTC after ten years of inactivity

-


Mysterious Bitcoin Wallets Worth $61 Million Awaken After 10-Year Hiatus

Two mysterious Bitcoin wallets holding a combined 1,000 Bitcoin — worth $61 million at current prices — have suddenly awoken after a 10-year hiatus, transferring out almost every single satoshi.

The wallets, with addresses “16vRq…qjzEa” and “1DUJuH…NgfC5”, each received 500 Bitcoin back in 2013 when the price of Bitcoin was just $134. Now, at current prices, the combined amount transferred is worth a staggering $61.2 million.

The transfers, which took place recently, have sparked curiosity and speculation among onlookers. One of the receiving addresses has already transferred the Bitcoin onward to multiple addresses, while the other is still holding onto its 500 Bitcoin.

Blockchain analytics firm Lookonchain paired the two transactions together, suggesting that the two wallets may have been owned by the same person or entity. Prior to the transfers, the wallets were among the 4,353rd largest Bitcoin whales.

This news comes less than a week after a Satoshi Nakamoto-era Bitcoin wallet transferred 687 Bitcoin, worth $43.9 million, to two separate addresses. While dormant Bitcoin wallets waking up is not uncommon, there are still nearly 1.8 million Bitcoin addresses that have remained inactive for over a decade.

Speculation abounds as to why these dormant wallets are suddenly becoming active. Some believe it could be to sell Bitcoin at an opportune time, while others suggest it may be to transfer funds to a more secure noncustodial wallet service provider.

Bitcoin’s price is currently at $61,450 and has seen a 130% increase over the last 12 months. With the cryptocurrency market constantly evolving, the question remains: How can Bitcoin payments stage a comeback?

LATEST POSTS

XRP Outperforms BTC, SOL, and ETH on Binance, Coinbase, and Kraken in Key Metric

XRP Surpasses Bitcoin, Solana, and Ethereum in Trade Volume on Major Exchanges The cryptocurrency market is buzzing with excitement as XRP, the digital asset associated...

Asset manager predicts that Trump administration could designate Bitcoin as a strategic reserve asset

Bitcoin's Potential as a Strategic Reserve Asset Under a Future Trump Administration Asset manager Bryan Courchesne recently made a bold prediction on CNBC, suggesting that...

What crypto policies might potential Vice Presidents under Kamala Harris bring to the table?

Potential Democratic and Republican Candidates for the 2024 Presidential Election The 2024 presidential race is heating up as experts predict that United States Vice President...

Kaiko predicts that Ethereum price will be influenced by ETF inflows in the near future

Spot Ether ETF Inflows Expected to Impact Price Sensitivity, Says Kaiko The launch of spot Ether ETFs is set to shake up the crypto market...

Most Popular