Bitcoin Wallet Address Moves $30 Million After 11 Years of Dormancy

By Insa Monroe Jul 25, 202356Views

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An Ancient Bitcoin Wallet Address Moves $30 Million After 11 Years of Dormancy

An ancient Bitcoin wallet address that had been inactive for eleven years recently transferred over $30 million worth of BTC to a new wallet. This development has caught the attention of experts who see it as a sign of a major player entering the cryptocurrency space. The address, which had 1,037 BTC tokens, received its first-ever transaction back in 2012 when the price was $4.92 per token. The recent transfer took place when the price of BTC was $29,956, resulting in a staggering 600,000% gain since 2012. The move has sparked speculation about the possible motives behind it, such as withdrawal, profit-taking, or regaining control of private keys. This sudden reactivation of a dormant address suggests the presence of a new crypto whale in the market, potentially impacting the Bitcoin market in the near future.

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Insa Monroe

Insa's extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa's specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.