Two Bitcoin wallets, which had been inactive for 14 years, transferred a total of 20,000 BTC, worth approximately $2.18 billion, on July 4. The initial acquisition cost significantly exceeds the initial investment.
UNN reports with reference to InsideBitcoins.
Details
Two Bitcoin wallets, holding a total of $2.18 billion in BTC, were activated on July 3 after more than a 14-year hiatus.
The movements were first noticed by blockchain expert Whale Alert, and later by Lookonchain.
The transactions were made from different addresses that had held 10,000 BTC since April 3, 2011, when the asset's price was approximately $0.78.
Reference
The wallets received these coins on April 3, 2011. At that time, Bitcoin was trading at around 78 cents.
During this period, the value of 20,000 Bitcoins increased from $7,800 at that time to $2.18 billion.
Experts predict a new ATH
The exact reason for the transfers, as well as other details such as the owners of the addresses, whether they belong to one person or company, remain unknown.
Transfers by addresses may be strategic, as market analysts predict that Bitcoin will soon set a new ATH.
BTC may be just 2 weeks away from setting a new record high.
(Bitcoin) is consolidating above $108,000, and I assume we will start seeing a new ATH within the next 1-2 weeks due to this upward pressure.
Recall
On June 3, Bitcoin rose by 2.3% to $109,113.8, breaking through its trading range. The growth was driven by improved trade relations between the US and Vietnam, as well as the easing of restrictions on chip exports to China.
The Pakistani authorities have allocated 2000 MW of electricity for the development of Bitcoin mining and AI data centers.