Crypto Wallet Moves Bitcoin Stash After a Decade of Inactivity

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Cryptodnes2024/08/20 14:15

By:Cryptodnes

A Bitcoin wallet that had been dormant for 10.8 years recently moved 24 BTC, marking a significant gain.

Data from Whale Alert reveals that a Bitcoin wallet, untouched since November 2013, has been activated. The 24 BTC in the wallet, initially valued at around $10,915, is now worth approximately $1.46 million—a gain of 13,245%.

The reason for this sudden move is unclear, but it may indicate the holder is cashing out after a lengthy period of inactivity. Despite the large gain, this amount is small relative to the overall Bitcoin market.

Additionally, analyst Checkmate noted that 80% of Bitcoin held by short-term investors (those who bought within the last 155 days) are currently at a loss.

Bitcoin’s Potential Rise Tied to Weakening U.S. Dollar, Analysts Say

This could lead to potential sell-offs, but these losses represent only about 4% of Bitcoin’s total market cap.

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