Home » 6,522 ‘Sleeping Bitcoins’ Worth $107 Million Wake Up After 5 Years of Inactivity – Bitcoin News

6,522 ‘Sleeping Bitcoins’ Worth $107 Million Wake Up After 5 Years of Inactivity – Bitcoin News

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On November 16, 2022, at the Bitcoin block height of 763,474, someone transferred 6,522 Bitcoins worth about $107 million after the coin had been idle for over five years. Bitcoin’s value is 75% lower than he was a year ago, but amid the recent capitulation of the crypto market, the so-called sleeping Bitcoin is waking up.

Bitcoin price remains 75% lower than it was a year ago, but many old Bitcoins that have been inactive for years start moving

Five days ago, 3,500 Bitcoins in 2011 was forwarded First time in 11 years. Amidst the FTX-related crypto market carnage, old coins are somehow awakening and moving to unknown wallets. For example, a Bitcoin address “1QBG9,” moved 25 Bitcoin address to block height 762,719 Created November 13, 2011.

6,522 $107M Worth of 'Sleeping Bitcoin' Wakes Up After 5 Years of Inactivity
Today’s $1.24 million worth of 75 bitcoins are from 2010 and 2011, both trades during the market catastrophe following the FTX demise. 6,522.40 on November 14, 2022, two days after 50 Bitcoins were spent from 2010 Bitcoin $107 million worth of assets moved to two new unknown addresses.

Shortly thereafter, on November 14, 2022, 50 Bitcoins were consumed from 2010 and sat idle for over a decade. bitcoin address1LB8B,” moved 50 Bitcoin was 763,149 in block height Created May 23, 2010. All three of these sightings were of Bitcoins stored at addresses that had not been used in over ten years.

6,522 Bitcoins Worth Over $107 Million After Sleeping Over 5 Years

Two days after 50 Bitcoins moved in 2010, Bitcoin Derived from an address created on July 31, 2017, moved after being abandoned for over five years. It’s not that old, but blockchain parser From btcparser.com, I found an individual or group spending about 6,522.40. Bitcoin.

The stash is worth over $107 million in today’s usage. Bitcoin exchange rate. bitcoin address1LVBn” is also connected to nearly 10,000 people Bitcoin first occurred address Created May 29, 2011. When the “1LVBn” Bitcoin address was created on July 31, 2017, Bitcoin was trading at $2,875 per unit, according to statmuse.com. index.

So 6,522 bitcoin cash was only worth roughly $18.7 million before it went dormant for over five years. If the 6,522 bitcoin stock was sold today, the owner would have made a profit of over 472%.

If it was the same owner who got about 9,478.77 Bitcoin On May 29, 2011, individuals gave Bitcoin $8.30 per unitAt that price in spring 2011, it would have earned about 1,189% against the US dollar over 11 years.

Owner sends bitcoin cash to two addresses using zero-privacy technology

However, according to on-chain data, the funds do not appear to have been transferred to the exchange, as 6,522 bitcoins are currently at two different addresses. change address “1AkJq’ holds 6,061.83 Bitcoinand 460.57 Bitcoin I went to the addressbc1qt6,522 Bitcoin net transfers remain idle at the time of writing.

Through 6,522 histories Bitcoin Transactions used on November 16, 2022 were never sent in a private manner. Blockchair.com’s privacy tools allow last modified transactionmoved 6,061.83 Bitcoin‘0’ or ‘Severe’ privacy rating.

6,522 $107M Worth of 'Sleeping Bitcoin' Wakes Up After 5 Years of Inactivity

Every time these bitcoin holders moved their coins, matching inputs and outputs were found, easily identifiable by blockchain analysis. Note that the jargon “spent” and the word “change” used in this article do not necessarily mean that the Bitcoin has been sold.

6,522 $107M Worth of 'Sleeping Bitcoin' Wakes Up After 5 Years of Inactivity

In fact, they may be forwarded to different addresses by the same owner. Also note that the Bitcoin issued from the wallet on May 29, 2011 is also associated with 6,522. Bitcoin Amounts spent on November 16, 2022 may have changed ownership on or off the blockchain.

bitcoin address owner Correspondence Bitcoin Cash (BCHMore) associated with the “1LVBn” Bitcoin address. 6,522.40 BCHMore The address remains at the time of writing, BCHMore Worth about 680,939 nominal USD.

Tags for this story

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What do you think about 6,522 Bitcoins waking up after 5 years and 3 months? Let us know your thoughts on the matter in the comments section below.

Jamie Redman

Jamie Redman is a news lead for Bitcoin.com News and a financial technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols currently emerging.

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