Recent Bitcoin Transfer Raises Eyebrows
On May 6, 2024, a significant sum of bitcoins was transferred from a wallet that had been inactive for over ten years. Analysts from the company Lookonchain discovered that the previously inactive wallet transferred 687 bitcoins to two other addresses. At the current exchange rate, the total amount of transferred funds was $43.9 million.
This wallet was created on January 12, 2014, when the price of bitcoin was around $917. At that time, the total value of 687 coins was approximately $630,000. Now, these same coins are valued in the millions.
According to Fortune, as of the end of April 2024, there are 1.75 million bitcoin wallets that have been inactive for over ten years. In total, these wallets hold 1,798,681 bitcoins worth around $121 billion at the current rate.
Recent events show that many of these «sleeping» wallets have started to wake up. Some owners have transferred their assets to cryptocurrency exchanges, which may indicate an intention to cash in their profits. For example, in early March of this year, early miners transferred over 1000 bitcoins to the Coinbase exchange amidst the rise in cryptocurrency prices.
These old wallets, belonging to the «Satoshi era,» were created and received coins during the time of Satoshi Nakamoto’s activity, the creator of bitcoin. Nakamoto’s last public message on forums dates back to December 2010. In December of last year, a large transaction was also recorded from a wallet that had been inactive for 13 years, transferring bitcoins worth $42.08 million to cryptocurrency exchanges and digital asset storage platforms.
