An Inactive Bitcoin Wallet Transfers 139 BTC Worth $3.7 Million

The Bitcoin wallets that have billions of dollars in its account still did not do any transactions for many years known as Dormant addresses. At present the price of BTC is roaring, while many analysts are confident about its price surge in the coming years. So if any dormant wallet that even has some BTCs in its wallet will be at least a millionaire in upcoming years.

However, as these kinds of Bitcoin wallets are generally inactive for a long period of time, the transactions from these wallets are quite interesting.

Recently, a dormant address has transferred 139 BTC to a new SegWit address. Segregated Witness or SegWit is generally used when there is any change in the format of a Bitcoin transaction. In this, the witness information was removed from the original input field of the block. Originally these BTCs were purchased in June 2011 at $2,250, which at present is worth almost 3.7 Million.

Notably, this BTC transfer was done after almost 12 years, which gained the attention of crypto insiders.

This was not the first time this year when any dormant address did a million-dollar transaction in BTC. Mid-April last year, a Bitcoin wallet sent more than 2,000 BTC worth more than $50 Million. The Bitcoin whale received over six thousand BTC in December 2013, when the price was $663.

Whale Alert, the blockchain tracker and analytics platform, tweeted last month about a dormant address that has “1,000 BTC has just been activated.” At present rates, 1,000 BTC costs nearly $27.4 Million.

According to a report by Glassnode, “this year more than 3,000 BTC had been revived, out of which 1,100 are of pre-date 2013.” A similar event was witnessed last year in March, when the sale of 429 BTC was done from an ancient wallet created on October 10th. In the same manner, an event occurred in February 2023, when a Satoshi-era address transferred 412 BTC. That bitcoin transaction at present is valued nearly at $11.20 Billion.

BTC Price Analysis

At press time, bitcoin wallets are trading at $27,193 with a 24-hour trading volume of $12.76 Billion. Its price is down 0.66% in the last 24 hours, with a current market cap of $527.59 Billion.

In the last 30 days, the price of Bitcoin dropped to its lowest price at $25,878.43 while it surged to $30,555.54, according to Tradingview.

Disclaimer

The views and opinions stated by the author, or any people named in this article about Bitcoin wallets, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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