Massive Sleeping Bitcoin Wallet From 2013 Moves 750 BTC After 11 Years, Valued at $48M

With bitcoin prices declining by 3.7% in the past 24 hours, a dormant bitcoin wallet, created on May 20, 2013, or just over 11 years ago, moved 750 BTC, valued at roughly $48 million at current exchange rates.

Vintage Bitcoin Wallet From 2013 Transfers 750 BTC Amid Market Dip

On Thursday, a wallet that began accumulating bitcoin (BTC) on May 20, 2013, and continued until June 2013, transferred 750 BTC for the first time in 11 years. This amount is worth $48 million based on BTC exchange rates from July 25, 2024, when BTC was trading below $64,000. At 10:10 a.m. EDT, BTC hit an intraday low of $63,424 per unit.

The funds were divided into three different wallets: one holding 748 BTC, and two others each containing 1 BTC. The 748 BTC was transferred from the original legacy address, known as a Pay-to-Public-Key-Hash (P2PKH) wallet, to a Bech32 address, known as a Pay-to-Witness-Public-Key-Hash (P2WPKH) wallet.

Similarly, the single bitcoins were sent to Bech32 wallets as well. When the owner originally acquired these coins, BTC was valued between $122 and $104 per coin. Thus, the stash was worth about $91,500 when it was obtained in 2013.

The funds remained unmoved during the 2013, 2017, and 2021 BTC bull runs. By holding onto the bitcoin untouched for all these years, the owner has experienced a 52,407% gain against the U.S. dollar over the past 11 years. The 750 BTC transfer on Thursday at block height 853,870 was first discovered by btcparser.com.

Source: https://news.bitcoin.com/massive-sleeping-bitcoin-wallet-from-2013-moves-750-btc-after-11-years-valued-at-48m/