Patience, or could we say self-control, eventually pays off: Two wallets had a total of 1000 Bitcoins worth $134,000 more than almost 11 years ago when 1 Bitcoin or BTC was worth only a mere $134. Over the years since that time—fast-forward to today—Bitcoin has drastically grown up and the 1000 BTC which had been lying dormant for almost 11 years, until they were recently transferred, are now worth nearly $63 million at the current rate of $63,000 to 1 BTC .
According to Blockchain.com’s Bitcoin block explorer, one of the wallets which has an address that starts with 16vRq and ends with qjzEa transferred its 500 Bitcoin (BTC) on May 12 at 7:10 pm UTC, while the other wallet address which has an address that starts with 1DUJuH and ends with NgfC5 transferred its 500 Bitcoins two blocks later.
Each of the two wallets had individually received 500 Bitcoins on September 12 and 13, 2013, when 1 BTC was just $134. Based on the current price of Bitcoin today when the wallets have each transferred 500 Bitcoins (or a combined total of 1000 Bitcoins), the price of the combined amount of Bitcoin recently transferred is now worth over 450 times more than the price at which they were acquired almost 11 years ago.
According to BitInfoCharts, the two addresses were both the 4,353rd-largest Bitcoin whales before their respective 500 Bitcoins were recently transferred. Blockchain analytics firm Lookonchain paired the two transfers/transactions from the two wallets together and strongly believe that the two wallets belong to one entity or person.
It was just about two to three weeks ago that a Bitcoin wallet existing since the Satoshi Nakamoto-era transferred 687 Bitcoins worth $43.9 million to two different addresses. The cryptocurrency community has observed that at least one early-day (or Satoshi Nakamoto-era) Bitcoin wallet wakes up every month out of the many Bitcoin addresses that have remained dormant for over a decade. It is believed that over 1.8 million Bitcoins are lost, locked in dormant wallets for years.
Concluding words
Despite the drastic increase in the value/price of Bitcoin over the years since it was invented, the owners of the two wallets and a number of other heavy wallets have not rushed to sell their Bitcoins on/through exchanges. Rather, they have transferred their assets to anonymous wallets, while leaving onlookers wondering what their intentions are.
The movement or transfer of Bitcoins from long-dormant bitcoin whales can greatly influence market dynamics if the Bitcoins were to be sold and transfer activities from dormant Bitcoin wallets intensify in any given time period.
MoTEnv — MTE 