A long-dormant Bitcoin holder transferred 20,000 BTC, inactive for over 14 years, sending shockwaves through the cryptocurrency market.
The coins, valued at approximately $2.18 billion at the time of transfer, represent one of the largest movements of Bitcoin held since its early adopters. Blockchain analysis confirms the Bitcoins originated from wallets holding coins mined or acquired significantly earlier.
With an initial acquisition cost estimated near $0.78 based on prevailing prices at the time, the unrealized gain at the point of transfer represents a staggering return multiple of approximately 140,000 times.
The surprising transaction triggered immediate volatility as news spread. Market sentiment rapidly shifted, leading to heightened price fluctuations.
The movement has ignited intense discussion and speculation within the cryptocurrency community regarding the motivations behind the action and its potential implications for Bitcoin’s near-term price trajectory. Questions remain unanswered, focusing on whether this signals profit-taking by an early holder or preparatory steps preceding a larger transaction, adding a layer of uncertainty.