Wallet Holding Bitcoin Since $284 Price Awakens After 10 Years ⋆ ZyCrypto
The post Wallet Holding Bitcoin Since $284 Price Awakens After 10 Years ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     A Bitcoin wallet that had remained dormant for an entire decade has suddenly sprung to life, according to blockchain tracking platform Lookonchain. In a tweet on Tuesday, the firm revealed that the wallet moved all 365 BTC, currently valued at around $29 million, after 10 years of complete inactivity. Notably, the wallet initially received the Bitcoin when the price was just $284 per coin, placing the original investment at approximately $103,000. This reactivation has raised eyebrows in the crypto community, particularly as it’s not an isolated incident. On March 24, a wallet created back in August 2011, when Bitcoin was trading at just $13, moved 100 BTC, now worth over $7.7 million, to new addresses after nearly 14 years of silence. Just a day later, another whale made waves by moving 3,000 BTC, originally acquired in 2017. The stash had grown from a $12.29 million valuation to over $260 million, a staggering 2,115% increase. These funds, believed to be linked to old Coinbase-related transactions, had remained untouched for eight years. Earlier on January 10, Lookonchain reported yet another dormant whale awakening. This time, 500 BTC, valued at $46.87 million, was transferred to Coinbase Prime. The BTC was received initially six years ago, when the price hovered around $7,000. Advertisement   While it’s unclear why these long-inactive wallets are suddenly becoming active, analysts suggest several possible motives, including internal fund reallocation or even precautionary moves due to compromised private keys. However, the timing is notable as Bitcoin struggles to hold its ground, with some analysts pointing to profit-taking activities. Notably, crypto analytics firm CryptoQuant reported on April 3 that 1,057 BTC, aged between 7 and 10 years, had recently moved. “1,057 Bitcoin that hadn’t moved in 7–10 years just woke up. Long-term holders may be preparing to sell,”…
Filed under: News - @ April 19, 2025 5:24 pm