CoinDesk Report:
Two early Bitcoin holders who had been dormant for over 10 years suddenly transferred tens of millions of dollars in Bitcoin.
Data from the whale tracking bot Whale Alert shows that an ancient Bitcoin wallet, dormant for 10.6 years, suddenly woke up and moved 1,004 Bitcoins, valued at $56.92 million.
On-chain data reveals that the whale initially moved the Bitcoins to an unknown wallet and then to another obscure destination where the Bitcoin stash currently resides.
According to Bitinfocharts, this wealthy investor spent over $1.132 million accumulating their Bitcoin treasure in 2013 and 2014, when Bitcoin was trading below $800, indicating a staggering increase of over 4920% after holding for a decade.
Whale Alert also discovered that another early Bitcoin holder transferred 20 Bitcoins worth $1.41 million after more than 11 years of inactivity. According to on-chain data, this entity moved the Bitcoin treasure to another unknown wallet before transferring them to a different undisclosed address.
Bitinfocharts data shows that in July 2013, when Bitcoin was trading around $80, the investor spent $1,676 accumulating their Bitcoin stack, reflecting returns approaching 68,000% after 11 years of dormancy.
None of the Bitcoin stacks were sent to known cryptocurrency exchange addresses, where they could potentially be sold on the open market.
At the time of writing, Bitcoin’s trading price is $57,700, up over 2% in the past day.
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