Long-inactive wallets belonging to early Bitcoin investors are back in the spotlight. A Bitcoin address that hadn’t made any transactions since February 2014 moved its entire balance of 27.85
Long-inactive wallets belonging to early Bitcoin investors are back in the spotlight. A Bitcoin address that hadn’t made any transactions since February 2014 moved its entire balance of 27.85 BTC after almost 12.5 years.
The current value of these Bitcoins is approximately $1.78 million. It is noted that when the wallet first acquired the BTC, Bitcoin was trading in the range of approximately $800-814, and the long-term return on this investment is calculated to exceed 7,700%.
According to blockchain data, 27.85 BTC held at the address 1Me9Ep…ZARNtRu was moved yesterday around 08:25 in block number 961,963.
The Bitcoins have reportedly been held untouched in the wallet since February 2, 2014. Considering the average cost at that time was around $814, it is estimated that the wallet owner has earned approximately $1.76 million.
Data revealed by Galaxy Research indicates that the activity is not limited to just one wallet.
Three different Bitcoin addresses, dating back to the early months of 2014, transferred a total of 87.43 BTC in consecutive blocks. The total value of these Bitcoins was estimated to be approximately $5.58 million.
Following the wallet carrying 27.85 BTC, two different addresses transferred 26.81 BTC and 32.77 BTC respectively. The day before, 26.96 BTC had been moved from another wallet during the same period.
Transaction history on the blockchain shows that these Bitcoins have passed through various address chains in the past before reaching the current wallets. Recent transfers indicate that the BTCs are being sent to modern addresses that support newer Bitcoin script types. For now, there is no clear indication that the Bitcoins are being sent to centralized exchanges or transferred for sale.
*This is not investment advice.
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