Dormant Bitcoin Whale Moves 500 BTC After 12 Years, With About $40 Million in Gains
Suehyeon Lee
Summary
- A dormant early Bitcoin investor moved a large Bitcoin holding after 12 years of inactivity.
- On-chain analytics platform Lookonchain said wallet 1KAA8G, identified as an early Bitcoin investor, transferred 500 BTC worth about $40.62 million to an external address.
- The wallet received 500 BTC when Bitcoin was trading near $900, implying an unrealized gain of about $40.17 million and a return of roughly 88 times.
Forecast Trend Report by Period
A dormant early Bitcoin investor has moved a large holding after 12 years of inactivity.
On-chain analytics platform Lookonchain said on May 10 that wallet 1KAA8G, identified as belonging to an early Bitcoin investor, transferred 500 BTC worth about $40.62 million to an external address about four hours earlier. The wallet had been inactive for more than 12 years.
The wallet received the 500 BTC about 12 years ago, when Bitcoin was trading near $900. At current prices, that translates to an unrealized gain of about $40.17 million, or roughly 88 times the original value.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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