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Analysis

Massive Wealth Transfer: Dormant BTC Address Surges To $56.3M After 6 Years

September 19, 2023 - Around 2 mins mins to read

Key Points:

  • A dormant BTC address transferred approximately $56.3M after 6 years of inactivity.
  • The receiving address had no previous transactions before this transfer.
  • In 2017, the dormant BTC address received $11.8M worth of BTC, which has now grown to $56.3M.
A dormant BTC address, which received ~2,100 BTC (worth about $11.8M at the time of transfer) on October 19, 2017, moved its BTC (now worth ~$56.3M) to a new address.

According to BitInfoCharts data, a dormant BTC address starting with 13RLtG, which had been inactive for nearly 6 years, recently transferred all 2099.99 BTC (approximately US$56.309 million) it held to a new address starting with 1LGnp5. The receiving address, 1LGnp5, had no previous transactions before this transfer.

Massive Wealth Transfer: Dormant BTC Address Surges To $56.3M After 6 Years

In October 19, 2017, the dormant BTC address 13RLtG…PXs had received approximately 2,100 BTC (worth about $11.8M at that time). Now, after 6 years, it has moved its BTC, which is now valued at around $56.3M, to the new address 1LGnp5…GgM.

According to data from Glassnode, Long-Term Holders currently control a significant 70% of the total Bitcoin supply, which amounts to 14,787,265 BTC. Wherein, 69.2% of these long-term holders are currently in a profitable position, as they have held their BTC for an average of more than 155 days.

A month ago, CoinCu reported a long-dormant Bitcoin address, untouched for over 12.8 years, has sprung to life. Whale Alert recorded the activation of an address housing 1,005 BTC. Initially valued at around $1,316 per BTC, this stash has now surged to a staggering $29.75 million, marking a remarkable 22,500-fold increase.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
Analysis

Massive Wealth Transfer: Dormant BTC Address Surges To $56.3M After 6 Years

Key Points:

  • A dormant BTC address transferred approximately $56.3M after 6 years of inactivity.
  • The receiving address had no previous transactions before this transfer.
  • In 2017, the dormant BTC address received $11.8M worth of BTC, which has now grown to $56.3M.
A dormant BTC address, which received ~2,100 BTC (worth about $11.8M at the time of transfer) on October 19, 2017, moved its BTC (now worth ~$56.3M) to a new address.

According to BitInfoCharts data, a dormant BTC address starting with 13RLtG, which had been inactive for nearly 6 years, recently transferred all 2099.99 BTC (approximately US$56.309 million) it held to a new address starting with 1LGnp5. The receiving address, 1LGnp5, had no previous transactions before this transfer.

Massive Wealth Transfer: Dormant BTC Address Surges To $56.3M After 6 Years

In October 19, 2017, the dormant BTC address 13RLtG…PXs had received approximately 2,100 BTC (worth about $11.8M at that time). Now, after 6 years, it has moved its BTC, which is now valued at around $56.3M, to the new address 1LGnp5…GgM.

According to data from Glassnode, Long-Term Holders currently control a significant 70% of the total Bitcoin supply, which amounts to 14,787,265 BTC. Wherein, 69.2% of these long-term holders are currently in a profitable position, as they have held their BTC for an average of more than 155 days.

A month ago, CoinCu reported a long-dormant Bitcoin address, untouched for over 12.8 years, has sprung to life. Whale Alert recorded the activation of an address housing 1,005 BTC. Initially valued at around $1,316 per BTC, this stash has now surged to a staggering $29.75 million, marking a remarkable 22,500-fold increase.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.