A substantial stack of bitcoins worth $44 million that had been dormant for a decade were moved this morning.
A bitcoin wallet that has been inactive for more than a decade transferred its entire stack of 687.33 BTC — worth over $44 million — early this morning.
The wallet in question originally received the bitcoins on Jan. 12, 2014, on-chain monitoring platform Lookonchain noted on X. At that time, the price of one bitcoin was $917.Recent bitcoin whale movementsIn March, an address — the fifth richest on the Bitcoin blockchain — that had been dormant since 2019 moved $6 billion. An entity also combined $140 million in bitcoins mined in 2010 into a single wallet that same month.
In January, nearly 50,000 dormant bitcoins woke up less than a week after spot bitcoin exchange-traded funds were approved in the United States. Furthermore, while not technically on the Bitcoin blockchain, someone lost roughly $71 million worth of wrapped bitcoins on the Ethereum blockchain in an apparent address poisoning attack.
The price of bitcoin is currently trading at $64,269, according to The Block's Bitcoin Price Page.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures.
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