United

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>A dormant Bitcoin wallet transferred 500 coins, worth roughly $35 million, after 12 years of inactivity.</li>
 <li>Recent significant Bitcoin transfers may suggest a potential liquidity crisis, according to some industry insiders.</li>
</ul>
A Bitcoin wallet, inactive for almost 12 years, has recently moved its entire balance of 500 <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>.
The 500 coins, worth nearly $35 million at current market rates, were transferred to several new addresses.
<h2 id="historical-wallet-activity">Historical Wallet Activity</h2>
The wallet first received the 500 Bitcoin on July 14, 2012.
At that time, the value of the Bitcoin was less than $8, making the total worth less than $4000.
The identity of the person or organization behind this recent Bitcoin transfer remains unknown, as does the motivation behind the move.
<h2 id="noteworthy-bitcoin-transfers">Noteworthy Bitcoin Transfers</h2>
This recent transfer follows another intriguing Bitcoin movement earlier this week.
An unknown individual or entity consolidated 2,000 Bitcoin, received as mining rewards in 2010, into a single wallet.
When these blocks were initially mined, the total reward was valued at approximately $600.
Today, this amount is worth around $140 million.
Some, like CryptoQuant founder and CEO Ki Young Ju, suggest these transfers might indicate a “sell-side liquidity crisis.”
This could be driven by demand from new Bitcoin exchange-traded funds in the United States.
Last weekend, another significant movement was noted on the Bitcoin blockchain.
The fifth wealthiest Bitcoin address moved $6 billion worth of Bitcoin to three new addresses.
Earlier in 2021, an unknown party transferred 26.9 Bitcoin, valued at $1.2 million at the time, from what seems to be <a href="https://crypto.ro/en/exchange/binance/" rel="noopener noreferrer nofollow">Binance</a> to the Bitcoin network’s genesis wallet.
This effectively resulted in the permanent removal of these coins from circulation.

Long-Dormant Bitcoin Wallet Stirs, Transfers 500 Cryptocurrencies

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