finance
Bitcoin Wallet Inactive for 12 Years Moves 500 BTC
A Bitcoin wallet identified as 1KAA8G transferred 500 BTC four hours ago after remaining dormant for more than 12 years. The wallet originally received the coins when Bitcoin traded at approximately $914, realizing an 88x return and a profit of $40.17 million. @lookonchain reported the movement by an entity described as a BitcoinOG.
May 10, 7:52 PM·1m read1 source
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A Bitcoin wallet with identifier 1KAA8G moved 500 BTC four hours ago, according to @lookonchain reported. 62 million. The wallet 1KAA8G had been inactive for over 12 years prior to the movement.
It originally received the 500 BTC approximately 12 years ago when the price of Bitcoin stood at approximately $914. The wallet, which had received the Bitcoin when it traded near $914, moved the funds after more than 12 years of inactivity.
The transfer marks the first activity from the address since its creation more than a decade earlier. At the time of receipt, the 500 BTC carried a total value of roughly $457,000 based on the prevailing price near $914 per coin. Bitcoin's current price is higher than the approximately $914 level at the time the coins were originally received.
The wallet's recent action comes as Bitcoin trades well above the levels seen during its early adoption phase more than 12 years ago.
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