Ancient Bitcoin Stash Worth $30M Transferred to a New Wallet
An ancient bitcoin stash worth $30M has been reportedly moved to a new wallet. The wallet which held the famous coin suddenly came back online after it stayed dormant for nine years. According to blockchain.com, a total of 616 bitcoins were transferred from the idle wallet to a new wallet.
Blockchain.com reports that the stash was deposited into the old wallet on December 10, 2012. Then, the worth of the deposited stash was $8,195, about $13 per bitcoin. Judging by the current price of BTC, which is $47,811, the stash’s value is approximately a whopping $30M. The coin was moved at 05:50 UTC. It also appears that the wallet owner made around 47 cents, considering the number of intermittent transactions of negligible figures that the wallet recorded over time.
Nine years ago, when the bitcoin deposit was recorded, many investors who turned a blind eye didn’t envision that the price of the famous coin would rise one day. Then, some investors traded the coin cheaply, and those who had accumulated a few on their wallets lost their passwords eventually and gave up recovering them. Judging by today’s price, those who held onto the crypto swim in stupendous wealth now.
Other Abandoned BTC Stash That Was Recorded This Year
The recent transaction isn’t the only one that has occurred this year. In February, an abandoned wallet containing 100 BTC worth $5M became active after staying idle for almost eleven years. The coins were deposited in a wallet in June 2010 and moved in two different transactions to separate wallets.
Also in last year, a wallet, abandoned since February 2009, a month after the first Bitcoin block was mined cashed out a mouthwatering $500k. It prompted some speculations that the transaction was connected to the founder, Satoshi Nakamoto. Some people opined that anyone who was into the crypto industry that early knew the pseudonymous Nakamoto. To date, the face behind the creation of Bitcoin remains mysterious, despite the launch of several investigations to identify the real founder.
Nakamoto founded Bitcoin in 2008, shortly after the crash of the financial market. In 2009, he created the whitepaper, which is the block for BTC mining. Since then, a total of 18 million bitcoins have been mined, with over 700,000 blocks recorded.
The resurgence of these ancient wallets is good for the price of BTC. This can drive the price of BTC further up and even exert some influence over other coins. The recent wallet transaction speaks of the wonders of investing. An investment that yielded almost 360,000% in return is something worth celebrating.
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