After an astonishing 11-year dormancy, a Bitcoin (BTC) wallet holding an impressive sum of over 1,037 Bitcoin, valued at a staggering $31 million at current market prices, has suddenly sprung back to life. The momentous transfer of the entire stash occurred at a Bitcoin price of $29,956, and it was recorded at block height 799701, around 10:51 am UTC on July 22, as per BitInfoCharts.
On April 11, 2012, the dormant address acquired the 1,037 BTC when the price of Bitcoin was a mere $4.92, making the total value of the stash around $5,108 at that time. The recipient of this substantial transfer was a wallet address labeled “bc1qt180…,” which appears to be a recently created wallet.
At its peak, the balance of the original Bitcoin wallet surged to $71.6 million when BTC reached its all-time high of $69,044 on November 10, according to data from cryptocurrency price platform CoinGecko.
In recent times, the United States government has also been involved in significant BTC transfers. On July 12, a series of transactions moved nearly 10,000 BTC, worth a staggering $299 million, in relation to the Silk Road seizure. It is unclear whether these funds were sent to cryptocurrency exchanges or remain under the custody of the Justice Department.
Several other mysterious and substantial Bitcoin transfers have been observed in the past. For instance, on June 11, a Bitcoin whale moved 1,400 BTC, worth $36 million at the time, to a Pay-to-Taproot address. The motive behind this particular transaction was speculated to be related to enhancing privacy.
In April, another Bitcoin address transferred 2,071 BTC, valued at $60 million, nearly a decade after acquiring BTC at $663. Similarly, three months earlier, a massive transfer of 26,056 BTC, worth approximately $250 million, was made by another Bitcoin address. At BTC’s all-time high, the value of this particular wallet exceeded $1 billion.
Despite these notable high-value transfers, it’s worth noting that over 55% of BTC has not been moved in over two years, as indicated by a chart from on-chain analytics firm Glassnode, which was shared by cryptocurrency researcher Will Clemente.
As of now, BTC is priced at $30,082, having experienced an 81.8% increase in value in 2023. However, it remains down by 56.4% from its all-time high reached in November 2021, according to data from CoinGecko.
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