coinjournal.net
- According to on-chain data, a Satoshi era wallet has suddenly moved 500 $BTC.
- The Bitcoin wallet last transacted when the $BTC price hovered near $8.
On-chain data shows a Bitcoin wallet that last transacted nearly 12 years ago has suddenly moved all 500 $BTC it held.
According to data Lookonchain shared on March 30, the said wallet had been inactive since July 2012.
The last transaction that sent the 500 $BTC to the wallet was at a time when Bitcoin price was a mere $8, Lookonchain noted.
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 at the time) on Jul 14, 2012, when the price of $BTC was only $7.57.
Address:
1LUDXsAT6fQypinRbqVKatMiAbv6o9HjBc pic.twitter.com/zP3A3GlQHT— Lookonchain (@lookonchain) March 30, 2024
While the wallet owner’s identity is unknown, the transfer to new addresses comes as Bitcoin price hovers around $70k. The benchmark cryptocurrency reached a new all-time high this month when it raced above $73k.
At current prices, the transferred coins are worth about $35 million.
In April last year, another Satoshi-ear wallet woke up after a decade of dormancy. The wallet, held 1,128 $BTC and had last been active in 2012, transferred 279 $BTC. The last transaction from this wallet had been when Bitcoin price was around $12.