A Bitcoin wallet that has been dormant for 12 years suddenly moves 500 BTC
According to chain data, Satoshi era wallet suddenly moved 500 BTC.
The Bitcoin wallet last traded when the BTC price was hovering around $8.
On-chain data shows that a Bitcoin wallet that was last traded 12 years ago accidentally moved 500 BTC of its holdings.
According to information shared by Lookonchain on March 30, the wallet in question had been inactive since July 2012.
The last transaction that sent 500 BTC to a wallet was when the price of Bitcoin was only $8, according to Lookonchain.
A wallet that had been dormant for 11.7 years transferred all 500$BTC ($34.78M) to multiple new wallets.
This wallet received 500$BTC ($3,786) on July 14, 2012 when the price of $BTC was $7.57.
Address: 1LUDXsAT6fQypinRbqVKatMiAbv6o9HjBc pic.twitter.com/zP3A3GlQHT
— Lookonchain (@lookonchain) March 30, 2024
While the identity of the wallet's owner remains unknown, the move to new addresses comes as Bitcoin's price drops to $70k. The benchmark cryptocurrency hit a new all-time high this month when it topped $73K.
At current prices, the coins transferred are worth about $35 million.
In April of last year, another satoshi-ear bag was resurrected after a ten-year hibernation period. The wallet, which held 1,128 BTC and was last activated in 2012, transferred 279 BTC. The last transaction from this wallet had a bitcoin price of around $12.
