With the broader crypto market showing signs of rebound, movements from long-inactive Bitcoin wallets have started to draw interest and scrutiny.
Recently, miner wallets inactive for over 15.5 years have recorded movement, indicating potential profit-taking from early Bitcoin adopters. Notably, five such wallets transferred a total of 250 BTC, valued at approximately $15.9 million.
These wallets originally received 50 BTC each as mining rewards per block back in 2009, with the value of each wallet fluctuating between $3,184,108 and $3,191,361 at the time Lookonchain’s report due to market price changes.
Please note that many miner wallets dormant for more than 15.5 years are transferring $BTC!
5 miner wallets have transferred 250 $BTC($15.9M) in the past hour.
These wallets received 50 $BTC($3.18M) as mining rewards per block back in 2009.
Address:… pic.twitter.com/HktJivt7Qy
— Lookonchain (@lookonchain) September 20, 2024
Recall in 2009, when the wallets were last active, Bitcoin was worth just $0.0009. Hence, at the time, the 250 BTC were priced at $0.225.
Details of the Transfers
Specifically, at 07:13 UTC, a wallet containing 50 BTC transferred its entire balance, worth $3,182,908. This transaction closely followed another movement at 07:04 UTC, where a 15.6-year-old wallet shifted its BTC, valued at $3,186,687.
Similar transactions were recorded earlier, including one at 06:54 UTC which moved BTC worth $3,191,361, and another at 06:49 UTC, with BTC valued at $3,186,732. The earliest recorded movement in this series occurred at 06:30 UTC, involving a wallet dormant for 15.7 years, which holds BTC worth $3,184,108.
Further Miner Wallet Activations
Another similar event highlighted by Lookonchain on August 7 involved the transfer of 250 BTC into five new addresses. The transaction, originating from a wallet that accumulated 250 BTC through mining in 2010, saw its entire $13.95 million balance distributed across five different addresses.
The receiving addresses were credited with varying amounts, ranging from 10 BTC to 60 BTC each.
These movements show the impressive appreciation in Bitcoin’s value over the years, with recorded profits reaching $14,022,065 in 2024, up significantly from its early value of $112.24 in 2013.
Other Dormant Wallet Activities
Additionally, in July, a wallet containing 48 BTC, valued at $2.74 million, became active after 13 years. This wallet, tracked by Whale Alert, executed a transfer of 2.949 BTC, distributing the amount between two new wallets.
The first received 1.949 BTC worth $111,450, while the second was credited with 1 BTC. Following this transaction, the original wallet still holds 45.051 BTC, valued at approximately $2.57 million.
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Source: https://thecryptobasic.com/2024/09/20/dormant-wallets-move-250-bitcoin-after-15-years-turning-0-23-into-15-9m/?utm_source=rss&utm_medium=rss&utm_campaign=dormant-wallets-move-250-bitcoin-after-15-years-turning-0-23-into-15-9m