According to on-chain analytics firm Lookonchain, the wallet initially received a Bitcoin in 2013. What happened?
After more than a decade of inactivity, a wallet containing a large amount of $37.8 million worth of Bitcoin made a transfer of 1,432.93 Bitcoin to a new address.
What happened to the BTC wallet?
According to on-chain analytics firm lookonchainthe wallet initially received Bitcoin on April 9, 2013, when the price was only $195.40 per coin.
The current price per Bitcoin is $26,411, which is much higher than the price of $195.40 per Bitcoin on April 9, 2013, when the wallet initially received the transfer. The profits from this transfer amount to a staggering 13,402.57%.
These Bitcoins are part of what is known as the Ancient Supply, coins that were purchased at least seven years ago, although some experts take five years as their base date. In the past few months, several inactive wallet addresses have been reactivated.
Cryptocurrencies – wallet.jpg
On May 15, more than 139 Bitcoins, which had been purchased in June 2011 for just over $2,250, were transferred to a new Segwit (Segregated Witness) address. This loot is now worth $3.5 million at the current Bitcoin price, an increase of 155,456%.
Dormant wallet reactivations trigger speculation among the cryptocurrency community about the motives behind these moves. For example, there are speculations about the stash of Satoshi Nakamoto (the creator of Bitcoin), which is believed to constitute 5% of the total Bitcoin supply.
Source: Ambito
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