Satoshi-Era Bitcoin Wallets Move Over $1 Billion Each After 14 Years of Inactivity


Satoshi-Era Bitcoin Wallets Move Over  Billion Each After 14 Years of Inactivity


According to data provided by Lookonchain, a Bitcoin address that had been dormant for over 14 years transferred 10,000 BTC ($1.09 billion) earlier this Friday. 

Shortly after that, it was revealed that yet another $1 billion BTC address of the same Bitcoin OG had been emptied. 

Both wallets received their coins when they were worth just $0.78 back in April 2011. 

Bitcoin is currently changing hands at $109,027, according to CoinGecko data.

The great switchover 

According to a recent Bloomberg report that cites data from 10x Research, ancient Bitcoin whales have been selling their holdings en masse, offloading more than $50 billion in BTC over the past year. Some whales are swapping their coins for equity exposure.

These anonymous whales include miners, hedge funds, or wealth management firms registered in tax-friendly jurisdictions, as well as unidentified whales. 

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This explains why Bitcoin has been struggling to rally despite massive BTC inflows recorded by exchange-traded products and growing corporate adoption. 



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