Dormant Bitcoin Wallet Moves After 11 Years And Moves Over $30 Million

a sleeping bitcoin (B T c) A wallet containing over 1,037 bitcoins – worth $31 million at current prices – has suddenly awoken after 11 years of slumber and transferred its entire supply.

1037 BTC was transferred between a bitcoin price of $29,956 and took effect on July 22 at block height 799701 – approximately 10:51 AM UTC. According to for BitInfoCharts.

The long-dormant address received 1,037 BTC on April 11, 2012, when BTC was only $4.92, according to on-chain analytics platform LookOnChain. Mention On 22 July. This means that the stock was only worth $5,108 at that time.

Data from blockchain aggregator Blockchair shows That wallet address “bc1qt180…” – which appears to be a new wallet – was the recipient of $31 million.

Basic bitcoin wallet balance It peaked at $71.6 million on November 10 when BTC hit an all-time high of $69,044. According to for cryptocurrency pricing platform CoinGecko.

The United States Government Has Been One of the Biggest BTC Movers in Recent Times Transferred around 10,000 BTC – Valued $299 million in a series of transactions on July 12 in connection with the Silk Road foreclosure.

It is unclear whether the transaction was sent to a cryptocurrency exchange or is in the custody of the Department of Justice.

More Mysterious Portfolio Moves

On June 11, another mysterious bitcoin whale transferred 1,400 BTC – worth $36 million at the time – to a pay-to-taproot (P2TR) address. Ki Young Joo, CEO of CryptoQuant believes that The motive behind this transaction could be to increase privacy.

Earlier in April, another bitcoin address transferred 2,071 BTC – worth $60 million – nearly 10 years after acquiring BTC for $663. According to For lookonchain.

Three months ago, a whopping $250 million hand over One of the 26,056 BTC was created by another bitcoin address. At BTC’s all-time high, the wallet was valued at over $1 billion.

Connected: Bitcoin’s Soft Price Action Increases Interest in LINK, FIL, SNX and THETA

Over 55% BTC, despite some high-value transfers not moved for more than two years, According to a chart from on-chain analytics company Glassnode, which was shared by cryptocurrency researcher Will Clemente:

The price of BTC is currently at 30,082. While the bitcoin price is up 81.8% in 2023, it is still down 56.4% from its all-time high in November 2021. According to To CoinGecko.

magazine: Hall of Flames: The Wolf of All Streets Is Worried About a World Where Bitcoin Will Hit $1 Million

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