Bitcoin wallet transfer that has been inactive for nearly 12 years 500 in total BTC
+0.53%
The wallet originally received 500 Bitcoins on July 14, 2012, when the price of Bitcoin was less than $8, with a value of less than $4,000 at the time. famous by Lookonchain.
The identity of the person or entity behind the Bitcoin transfer is not yet known, as is the reason for the transfer.
Recent notable Bitcoin transfers
Yesterday’s mysterious Bitcoin move follows an even more interesting one earlier this week, when an individual or entity who received 2,000 Bitcoin as mining rewards in 2010 consolidated them into a single wallet.
When the block was mined, the total reward was around $600. According to The Block’s Bitcoin price page, that amount is now worth about $140 million.
Some in the industry, such as CryptoQuant founder and CEO Ki Young-joo, believe the move signals a “sell-side liquidity crisis” potentially triggered by demand for a new spot Bitcoin exchange-traded fund in the United States.
Last weekend, another notable movement occurred on the Bitcoin blockchain. The fifth richest Bitcoin address moved $6 billion worth of Bitcoin to three new addresses.
Earlier this year, in January, an individual or organization sent 26.9 bitcoins, worth $1.2 million at the time, from what appeared to be Binance to the Genesis wallet on the Bitcoin network. This effectively burned the coins forever.
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