Bitcoin (BTC) Moves Over $60,000,000 as Dormant Wallets from 2013 Become Active – Discover the Destination of the Cryptocurrency
Two wallets containing a total of 1,000 Bitcoin (BTC) have suddenly become active after being dormant for over a decade, according to data from on-chain sources. The first wallet received 500 BTC, valued at $62,000, on September 12th, 2013, when the price of Bitcoin was $124. The second wallet received the same amount at the same price the following day. After more than 10 years of inactivity, both wallets emptied their holdings within a 20-minute period over the weekend. The combined value of the Bitcoin in the wallets was $60.9 million, representing an astonishing increase of 49,012.9%. Data from the digital asset de-anonymizing platform Arkham reveals that the crypto was sent to two newly created wallets. One of the addresses still retains 500 BTC, while the other sent the Bitcoin through a series of other recently established wallets. In April, Ki Young Ju, the CEO of blockchain intelligence platform CryptoQuant, observed that newer crypto whales, defined as investors holding at least 1,000 Bitcoin with an average coin age of less than 155 days, had accumulated almost double the amount of BTC compared to long-term holders. At the time of writing, BTC is trading at $62,568, showing a nearly 2% increase in the past 24 hours.