Informative Insights

After 11-Year Slumber, Bitcoin Wallet Transfers $31M

An inactive Bitcoin wallet has initiated a transfer of 1,037 BTC, an equivalent of $31 million at the time of writing, after remaining dormant for over a decade.

A Bitcoin wallet, idle for 11 years, has become active again, transferring all 1,037 BTC out – currently worth $31 million. This unexpected transaction happened on July 22, according to crypto statistics provider BitInfoCharts.

After 11-Year Slumber, Bitcoin Wallet Transfers $31M

Blockchain data reveals that the wallet first received the Bitcoin stash back in April 2012, when each coin was valued at a modest $4.92, placing the entire hoard’s worth around $5,108. Data analytics firm Lookonchain confirmed these details on the same day of the transaction.

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Interestingly, this movement is one of several substantial Bitcoin transactions, including the U.S. government’s transfer of nearly 10,000 BTC, equating to $299 million. This was related to the Silk Road seizure in March.

A different Bitcoin address transferred 2,071 BTC in April, nearly a decade after buying Bitcoin at $663, as per Lookonchain’s data.

Bitcoin isn’t the only coin on the move. A previously inactive Ethereum wallet holding pre-mined tokens worth $116 million made a surprising move, transferring all of its 61,216 ETH to a Kraken wallet on July 18 after laying dormant for eight years.

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