Wallet that stayed dormant for 10 years has shoveled $96 million worth of Bitcoin
Chinese crypto journalist and blogger Colin Wu, who covers everything to do with cryptocurrencies, blockchain, and regulation, has shared that a wallet that had stayed dormant for almost nine years moved its entire contents of slightly over 5,000 Bitcoin to a new wallet.
5,000 BTC from Satoshi-Era Wallet Moved, 3 More Wallets Wait to Send Bitcoin
There are also three bitcoin addresses of the same origin, two with a balance of 5,000 BTCs and one with 6,071 BTCs, which have not yet been transferred.
Three addresses:https://t.co/qhM3y8AIAxhttps://t.co/fJNakkqC5Ohttps://t.co/rMRynS7Rc2— Wu Blockchain (@WuBlockchain) August 29, 2022
At the present exchange rate, this amount of crypto comprises $101,269,500. Wu obtained this data from Bitinforcharts website and shared a link in his tweet.
Over the past few years, dormant wallets have been awakening after being “asleep” for 7-10 years. Some of these wallets were set up when the mysterious Bitcoin creator Satoshi Nakamoto was still around after launching Bitcoin.
In the past, traders were afraid that such movements of large BTC amounts would push the coin’s price down. However, these transfers proved to be “innocent” for the crypto market, and the price was not impacted.
Earlier this month, on Aug. 2, a total of 1,110 BTC were moved from an anonymous wallet that had stayed dormant for eight years. Wu also tweeted that there are three other BTC addresses of the same origin. Two of them hold 5,000 Bitcoins each, and the third one contains 6,071 BTC. Crypto from these addresses has not been transferred yet.
Read more:
- Bitcoins Active Back In 2012 Are Back On Market, And Their Destination Is Unclear
- Bitcoin Price Failed To Keep $20,000 As Fears Over A Sell-Off Of Defunct Exchange Mt. Gox