"Two Bitcoin wallets resume activity after 14 years…Transfer of about ₩2.9 trillion worth of Bitcoin"
Summary
- It has been revealed that approximately 20,000 BTC were transferred simultaneously from two wallets that had held Bitcoin for 14 years to new wallets.
- The Bitcoin holdings in these wallets amount to about ₩2.97 trillion, having grown by approximately 139,828% over the holding period.
- Some market observers have stated that it is important to watch for the potential start of large-scale selling by long-term holders following this transfer.
There is evidence that approximately 20,000 BTC were transferred simultaneously from two Bitcoin (BTC) wallets that had been inactive for 14 years.
According to The Block, a media outlet specializing in virtual assets (cryptocurrencies), the two wallet addresses holding such a large amount of Bitcoin each sent 10,000 BTC to new wallets between the 3rd and early hours of the 4th (local time). The two transactions occurred 30 minutes apart, and no further movement has been observed from the receiving wallets so far.
At the time they were sent in 2011, this amount of Bitcoin was worth just about $7,800, but at current prices, the total is $2.18 billion (about ₩2.97 trillion). The value of the Bitcoin held in these wallets has increased by about 139,828% over 14 years.
The media reported, "The exact purpose, individuals behind these transfers, and whether both wallets belong to the same owner remain unknown," adding, "Some in the market suggest it is important to watch for the possibility of a major sell-off by long-term holders."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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