Cryptocurrency
Bitcoin Wallet Moves Coins After 10.8 Years
Tuesday. August 20 at 3:00 PM
1 min. readA Bitcoin wallet that had remained dormant for 10.8 years recently moved its 24 BTC stack, resulting in a profit of $1.45 million. The wallet's first transaction dates back to 2013 when Bitcoin was valued at $438.83. The sudden movement of these long-held coins raises questions about whether they were lost or intentionally held. Despite the significant profit, the impact of this sale on the market is expected to be minimal. On the other hand, data shows that around 80% of short-term Bitcoin holders are currently at a loss, potentially leading to panic selling. However, the overall unrealized loss from these holders only accounts for 4% of the cryptocurrency's market cap. Bitcoin's current price is approximately $58,300, showing a slight decrease over the past 24 hours.