Long-inactive wallets belonging to early Bitcoin investors are back in the spotlight. From a Bitcoin address that had seen no transactions since February 2014, the entire balance of 27.85 $BTC was moved after nearly 12.5 years.
The current value of these bitcoins is approximately $1.78 million. It is worth noting that when the wallet first acquired the $BTC, Bitcoin was trading around $800-$814, and the long-term return on investment is calculated to exceed 7700%.
According to blockchain data, the 27.85 $BTC stored at address 1Me9Ep...ZARNtRu were moved yesterday around 08:25 in block number 961963.
It is reported that the bitcoins had remained untouched in the wallet since February 2, 2014. Given that the average price at that time was around $814, it is estimated that the wallet owner has gained approximately $1.76 million.
Increased Activity in Old Bitcoin Wallets
Data published by Galaxy Research indicates that this activity is not limited to a single wallet.
From three different Bitcoin addresses dating back to early 2014, a total of 87.43 $BTC were moved in sequential blocks. The total value of these bitcoins is estimated at around $5.58 million.
After the transfer of 27.85 $BTC from the wallet, 26.81 $BTC and 32.77 $BTC were transferred to two different addresses respectively. A day earlier, during the same period, 26.96 $BTC were transferred from another wallet.
The transaction history on the blockchain shows that these bitcoins previously passed through various address chains before arriving at the current wallets. The recent transfers indicate that the $BTC is being sent to modern addresses supporting new Bitcoin script types. At this point, there is no clear indication that the bitcoins are being sent to centralized exchanges or transferred for sale.
*This is not investment advice.
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