After ten years of inactivity, two dormant Bitcoin wallets that had 1,000 Bitcoin worth $61 million suddenly came to life.
On May 12, the 500 Bitcoin were moved by the first wallet, and two blocks later, by the second wallet. The Bitcoin that was placed in these wallets in 2013 at a price of $134 is currently valued at $61.2 million. While one wallet rapidly transfers Bitcoin to several addresses, the other keeps some of the cryptocurrencycurrency.
Experts in blockchain matched these transactions, indicating that they were related to one another. Both wallets were in the top 4,353 Bitcoin holders before to this. Curiosity about the purposes of dormant wallets has been piqued by the recent 687 Bitcoin transfer from an early-era wallet.
Based on analysis, 1.8 million Bitcoin addresses aside from Satoshi Nakamoto’s wallet that collectively represent $121 billion in value have been dormant for more than a decade. Potential sales and securing money in noncustodial wallets are just two examples of speculation.
This revelation emphasizes the continued fascination in Bitcoin’s early adopters and their behavior, impacting market perceptions and igniting conversations on long-term holding tactics.
