Home›Crypto›Bitcoin›Dormant Bitcoin wallet transfers $383.6 million after…

Dormant Bitcoin wallet transfers $383.6 million after 8.5 years

Galaxy Research estimates the 5,907.6 BTC gained about $285.5 million, a 291% rise since the 2017 acquisition.

Reported · Written up by our desk · Bitcoin

Decrypt reports a Bitcoin wallet dormant for more than 8.5 years transferred its entire balance on Thursday, moving 5,907.56 BTC worth about $383.6 million to a new address.

According to Galaxy Research, the coins were originally received on Dec. 14, 2017, and moved in Bitcoin block 958217 at approximately 00:15 UTC, with the transfer to a previously unidentified wallet rather than a known exchange deposit address.

The firm estimates the holdings have appreciated by roughly $285.5 million, or 291%, based on an estimated average acquisition price of about $17,000 per Bitcoin.

Decrypt also notes that Galaxy Research linked the sending address to its investigation related to the Noah Doe litigation, which involves an anonymous plaintiff seeking ownership of about 3.8 million dormant Bitcoin, and that the transaction shifted the coins from a legacy “1” address to the newer bc1q format.

Latest closeBitcoin $64,184.63 ▼0.8%

More like this

Sources