Some old Bitcoins that have been dormant for over 15 years $63,089 addresses suddenly started moving hundreds of BTC.
Former Bitcoin Miners Take Action
Whale-watching bot Whale Alert reported on Friday that 250 BTC worth over $15.9 million was transferred from five different Bitcoin wallets that have been dormant for a long time.
According to digital asset tracker Lookonchain, the five wallets are linked to Bitcoin miners and each received 50 BTC in January or February 2009.
“Please note that many miner wallets are transferring BTC after more than 15.5 years… These wallets received mining rewards of 50 BTC per block in 2009.”
According to Bitinfocharts data, one of these old wallets first bought 50 BTC on February 2, 2009, and transferred them on Friday for a profit of $3.17 million.
Huge Profit Rates
Other wallets also bought 50 BTC in the final days of January 2009 and similarly moved it on Friday for a profit of approximately $3.18 million.
In 2009, the price of Bitcoin was well below $0.01, meaning that these wallet owners made over 8,000,000,000% profit.
Bitcoin is trading at $63,104 at press time and is up 17.5% in the past two weeks.
These movements reveal that early Bitcoin miners and investors are still active in the market and that it is important to monitor large amounts of cryptocurrency movements. The re-activation of such wallets that have been inactive for a long time stands out as a carefully followed development in the cryptocurrency world.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
