A dormant Bitcoin (BTC) wallet holding over 1,037 Bitcoin — worth $31 million at current prices — has suddenly awoken after an 11-year slumber, transferring out its entire stash.
The 1037 BTC was transferred amid a Bitcoin price of $29,956 and took effect at block height 799701 — approximately 10:51 am UTC on July 22, according to BitInfoCharts.
The long-dormant address obtained the 1,037 BTC on April 11, 2012, when BTC’s price was only $4.92, on-chain analytics platform Lookonchain stated on July 22. This means at the time, the stash was only worth around $5,108.
A BTC whale that has been dormant for 11 years transferred all 1,037.42 $BTC($37.8M) to a new address”bc1qtl” an hour ago.
The whale received 1,037.42 $BTC($5,107 at that time) on Apr 11, 2012, when the price was $4.92.https://t.co/k8ZmO5vc8X pic.twitter.com/xBaw2dQfY8
— Lookonchain (@lookonchain) July 22, 2023
Data from blockchain aggregator Blockchair shows that wallet address “bc1qt180…” — which appears to be a fresh wallet — was the recipient of the $31 million.
The balance of the original Bitcoin wallet peaked at $71.6 million when BTC reached its all-time high price of $69,044 on November 10, according to cryptocurrency price platform CoinGecko.
The United States government has been one of the biggest BTC movers of late, having
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Author: Brayden Lindrea
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