Bitcoin ‘cold case’ cracks open – 500 BTC from 2012 resurfaces, what now?
Bitcoin, with nearly 17 years of history, has an estimated 2.3 million BTC (11–19% of supply) lost due to inaccessible keys or storage failures. However, some are resurfacing, including over 6,500 pre-2012 coins. Recently, 500 BTC from 2012, linked to Irish drug dealer Clifton Collins, moved to Coinbase Prime. Collins originally purchased 6,000 BTC with drug money but lost access after his 2017 arrest. Ireland’s Criminal Assets Bureau seized the funds, and with Europol's help, accessed part of the holdings. 5,500 BTC remain frozen, worth around $423 million.
Despite this deposit, Bitcoin exchange inflows are declining, with net flows negative, indicating accumulation. BTC's price holds above $70k, with RSI at 51, suggesting buyer presence. A break above $72k could target $78k, but a drop below $70k may test $67k support.
ambcrypto03/25 14:03