Ancient Bitcoin Whale Moves Millions in BTC After 12 Years
Main Idea
An ancient whale moved 306 Bitcoin, originally acquired in 2013 when Bitcoin traded around $75, now worth $34.8 million, highlighting the significant appreciation of Bitcoin over time.
Key Points
1. A dormant Bitcoin wallet, first funded in 2013 when Bitcoin was around $75, moved 306 Bitcoin, now valued at $34.8 million.
2. The wallet was initially funded via a CoinJoin address, possibly linked to transactions on the darknet market Silk Road.
3. Bitcoin's price has increased by 152,300% since the wallet was first funded, with Bitcoin recently trading below $114,000.
4. The movement of long-dormant Bitcoin holdings is a recurring trend, with previous instances involving billions of dollars worth of Bitcoin.
5. Quantum-vulnerable Bitcoin addresses, including those potentially belonging to Satoshi Nakamoto, are a concern for future security risks.
Description
Selling from long-term holders could lead to a months-long correction, analysts at CryptoQuant warned earlier this week.
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