$2 Billion in Dormant Bitcoins Moved after 10 Years
In a recent update posted on social media by Arkham Intelligence, it has been revealed that around $2 billion worth of bitcoins that have been dormant for the past 10 years have been moved on January 16, 2024. The bitcoins, which were initially deposited in 2013, have finally experienced movement after remaining inactive since then. These bitcoins were stored in five different addresses before being consolidated into five new addresses on the mentioned date. Each of these new addresses now holds between 8K-12K BTC, with a value ranging from $380 million to $480 million per address.
Details of the Transaction
Arkham Intelligence reported that the first address contains 9,953 BTC worth approximately $423.59 million, while the second address holds 10,486 BTC valued at around $447.19 million. The third address has 9,445 BTC, equivalent to $402.80 million. The fourth address contains 8,859 BTC worth $377.80 million, and the fifth address secures 11,115 BTC valued at $474.01 million. All of these funds originated from addresses established on January 15, 2019, and even before that, they can be traced back to wallets dating back to November 2013.
Motives Behind the Transactions Remain Unknown
As is typical with significant movements of old bitcoins by large-scale investors, the reasons behind these transactions remain unclear. It is yet to be determined why these dormant funds were suddenly moved after such a long period of inactivity. Only time will reveal the intentions and motives of the individuals behind these bitcoin movements.
Hot Take: 10-Year Dormant Bitcoins Worth $2 Billion Moved
The recent movement of $2 billion worth of bitcoins that had been dormant for 10 years is a significant event in the cryptocurrency world. This action raises many questions about the motives behind such a massive transfer of funds. It is unusual for bitcoins to remain dormant for such a long time and then suddenly be moved in large quantities. This news has sparked curiosity among industry experts and investors alike, as they speculate on the reasons behind these transactions. Only time will tell the true purpose of these transfers and the impact they might have on the cryptocurrency market.
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