While wallets that have been dormant for a long time have recently taken action again, the latest move came from a wallet that has not moved at all since 2010.
According to this An unknown person or organization that earned 2,000 Bitcoins from mining rewards in 2010 combined all of their rewards into a single wallet.
While the merging process took place on March 26, 40 mining rewards worth 50 Bitcoins each were combined into a single wallet.
While the price of Bitcoin was around $0.30 during the period when mining rewards were earned, BTC The total value of their prize was $600.
Now the Bitcoin price is around $70,000 and its total value has reached around $140 million.
While the reason for these transfers remains unclear, CryptoQuant CEO Ki Joung Ju claimed that these Bitcoin transfers are a sign of a possible liquidity crisis on the sales side.
Sell-side liquidity crisis is waking up old #Bitcoin imo https://t.co/iRTS374LXu
— Ki Young Ju (@ki_young_ju) March 26, 2024
*This is not investment advice.
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