A long-dormant Bitcoin miner wallet moved 500 BTC roughly half an hour ago, according to on-chain analyst Ember, in a transfer valued at about $31.27 million. The coins had not moved for more than 13 years after being consolidated from a mining address in 2013. At that time, Bitcoin was trading near $1,020, putting the 500 BTC stack at roughly $510,000. The data also points to how long the holder sat through a difficult cycle: $1,020 was one of Bitcoin’s price highs around 2013, and BTC did not reclaim the $1,000 level until 2017. Based on current valuation cited in the report, the holdings are now worth about 60 times their value at the time they were consolidated.
A long-dormant Bitcoin miner wallet moved 500 BTC about half an hour ago, according to a ChainCatcher report citing on-chain analyst Ember. The transfer was valued at roughly $31.27 million.
Data cited in the report shows the 500 BTC had not moved for more than 13 years after being consolidated from a mining address in 2013. At the time, Bitcoin was trading at about $1,020, which valued the holdings at around $510,000.
The report added that $1,020 was among Bitcoin’s price highs in the years around 2013. BTC did not climb back above $1,000 until 2017, which means the address went through an estimated three- to four-year period underwater. At current value, the 500 BTC is worth about 60 times what it was worth when the coins were first consolidated.
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