During the wallet’s inactivity, assets have appreciated 9186 times in value

Unknown person transfers $35 million worth of bitcoins for the first time in 12 years

01.04.2024 - 11:12

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2 min

What’s new? Lookonchain analysts recorded a transaction related to a bitcoin wallet that had been inactive for almost 12 years. Thus, on March 30, the wallet owner transferred all coins (500 BTC worth $34,78 million) from it to several new addresses. He received the assets on July 14, 2012, when the value of one coin was $7,57, since then the value of the savings has increased 9186 times.

Source: Twitter.com

What else is known? The identity of the individual or entity that made the transfer, as well as the reason for the transfer, remains unknown. This transaction followed another large transfer from a sleeping wallet, also recorded in the past week.

On March 26, for example, an early miner who received 2000 bitcoins in 2010 pooled the coins. He transferred 40 mined block awards on the blockchain, each worth 50 BTC, to a single address. At the time the rewards were worth $600, the coins are now valued at $140 million.

Source: Twitter.com

And from March 23 to 24, the fifth-largest bitcoin address by accumulation transferred $6 billion worth of coins to three new wallets. Before that, it had been inactive since 2019.

Source: Twitter.com

In early March, early miner addresses that had been dormant for more than 10 years transferred a total of 1000 BTC to US crypto exchange Coinbase. This preceded a 12% drop in the asset’s exchange rate.

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