Bitcoin (BTC) Wallet Dormant for 12 Years Transfers $60M Worth of BTC as Market Rebounds

A Bitcoin (BTC) wallet, inactive for nearly 12 years, has suddenly sprung into action, transferring millions worth of digital currency.

A Bitcoin (CRYPTO: BTC) wallet that has been inactive for nearly 12 years has suddenly sprung into action, transferring millions of dollars worth of the digital currency.

On-chain tracking platform Spot On Chain reports that a wallet, known as “1EhXAfST”, transferred 1,000 Bitcoin, valued at over $60 million at current prices, into two new wallets on Sunday.

The wallet received its stash of BTC way back in September 2012, when the price of one Bitcoin was a mere $12.06. Since then, no inbound or outbound activity has been reported from the wallet.

Cryptocurrency transfers, particularly after a long dormancy, peak people’s interest because many believe the owner will profit from their holdings after years of gains.

Even in this case, the investor stands to net 497x in returns if they sold the entirety of their holdings at the current price.

This unexpected movement also comes amid a strong rebound in the cryptocurrency market. Bitcoin rallied to a 12-day high on Sunday in the wake of former President Donald Trump surviving an assassination attempt.

Additionally, a prominent technical analyst recently suggested that despite Bitcoin’s 17% monthly drop, a new all-time high could still be on the horizon.

At the time of writing, BTC was trading at $62,741.76, up 5.28% over the past 24 hours, according to data from Benzinga Pro.

The above is the detailed content of Bitcoin (BTC) Wallet Dormant for 12 Years Transfers $60M Worth of BTC as Market Rebounds. For more information, please follow other related articles on the PHP Chinese website!