2024

Donald Trump

Bitcoin

<p class="is-style-lead">A Bitcoin wallet that has been dormant since 2014 suddenly woke up and moved over 174 bitcoins worth more than $102 million.</p> 
<p>Blockchain data showed that the Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) wallet that received 174.88 BTC on Jan. 8, 2014, moved funds for the first time on Aug. 16, 2024.</p> 
<p>The transfer comes after a decade, during which Bitcoin’s price soared to highs of $73,000 before retreating to current levels.</p> 
<h2 class="wp-block-heading" id="transaction-cost">Transaction cost</h2> 
<p>While BTC’s initial value was nearly $142,000 in 2014, the staggering gains the flagship cryptocurrency has seen since mean that the 174.88 bitcoin is now worth more than $10.2 million.</p> 
<p>Blockchain tracker Whale Alert spotted this dormant Bitcoin wallet movement on Aug. 16.</p> 
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   <p lang="en" dir="ltr">💤 💤 A dormant address containing 174 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#BTC</a> (10,162,306 USD) has just been activated after 10.6 years (worth 142,600 USD in 2014)!<a href="https://t.co/HtndhS8ZU0" target="_blank" rel="">https://t.co/HtndhS8ZU0</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1824423445297299900?ref_src=twsrc%5Etfw" target="_blank" rel="">August 16, 2024</a>
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<p>The transaction fee for the transfer was 67,500 satoshis, or $39.43, which is considerably low. However, per <a href="https://mempool.space/tx/2a143fc77279a8415d5fefc3b2e96237436b544c299f2ce618922da7899aea04" target="_blank" rel="">mempool details</a>, this was still an overpayment of 50x that saw the $10.2 million transaction confirmed quickly.</p> 
<p>In October 2018, the wallet’s holdings totaled about $896,000, and crossed the $5 million mark in late January 2021.</p> 
<p>According to data on blockchain explorer Blockchair, the addresses’ <a href="https://blockchair.com/bitcoin/address/16NixiMtM4J7xqUYk68FjoTVcY4UCSetHX" target="_blank" rel="">balance</a> currently stands at 0.00004226 BTC, worth $2.50 at the current Bitcoin price of $59,300.</p> 
<p> You might also like: <a href="https://crypto.news/donald-trump-announces-pro-crypto-transition-team/"> Donald Trump announces pro-crypto transition team </a> </p> 
<h2 class="wp-block-heading" id="bitcoin-wallets-waking-up">Bitcoin wallets waking up</h2> 
<p>The last few months have seen a rising frequency of dormant Bitcoin addresses waking up to move millions of dollars worth of BTC. It’s notable that Satoshi-era addresses — those holding coins mined in the first few months of Bitcoin creator Satoshi Nakamoto’s time — have not been common.</p> 
<p>However, the past few months have seen multiple dormant wallets suddenly move, including one that woke up after a 12-year hibernation to <a href="https://crypto.news/sleeping-bitcoin-whale-wakes-up-with-6-9m-transfer/">transfer $6.9 million in BTC</a> in July this year. Another wallet sent <a href="https://crypto.news/dormant-bitcoin-miner-sends-3m-to-binance-after-14-years-of-inactivity/">$3 million in BTC to Binance</a> in June after being dormant for over 14 years.</p> 
<p>Whale Alert also spotted this other dormant wallet movement. </p> 
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   <p lang="en" dir="ltr">💤 A dormant address containing 18 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#BTC</a> (1,091,325 USD) has just been activated after 10.3 years (worth 9,204 USD in 2014)!<a href="https://t.co/ie234fPj3P" target="_blank" rel="">https://t.co/ie234fPj3P</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1824493260280054233?ref_src=twsrc%5Etfw" target="_blank" rel="">August 16, 2024</a>
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<p>Currently, <span style="margin: 0px; padding: 0px;">about 18.3 million BTC are in dormant Bitcoin wallets. BitInfoCharts&nbsp;<a href="https://bitinfocharts.com/top-100-dormant_7y-bitcoin-addresses.html" target="_blank" rel="">data</a>&nbsp;shows a sharp rise since January 2024,</span> when cumulatively, dormant BTC wallets held about 7.4 million coins.</p> 
<p>In most cases, investors watch the movement of BTC in dormant wallets as potential sources of fresh supply pressure on prices. ‘Sell wall’ investors often see prices struggle, resulting in huge volatility.</p> 
<p> You might also like: <a href="https://crypto.news/bitcoin-in-a-gray-zone-as-morgan-stanley-goldman-sachs-diverge/"> Bitcoin in a gray zone as Morgan Stanley, Goldman Sachs diverge </a> </p>

Dormant Bitcoin wallet from 2014 moves BTC worth $10.2m

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