- $15.95M in Bitcoin from 2009 was moved from 5 dormant addresses after 16 years of inactivity.
- The 250 BTC came from early blocks mined in January 2009.
- Bitcoin’s price remains stable at $63,128.22 despite the transfer.
According to Arkham Intelligence, 250 BTC was transferred from five dormant addresses. The bitcoin is worth $15.95 million. These addresses have been inactive since January 2009. Each address received 50 BTC for mining the early blocks 2247, 2401, 2455, 2486, and 2690.
Dormant Bitcoin Resurfaces
The Bitcoin from these addresses stayed untouched since they were mined. Over the years, its value has soared. When these coins were first mined, Bitcoin was worth only a fraction of what it is today.
Today, BTC is trading at around $63,128.22.The price has fluctuated throughout the previous week, reaching a low of $58,211 on September 17. However, Bitcoin has steadily gained, reflecting a stable market performance.
Significance of the Movement
Arkham’s report emphasizes that this is a rare occurrence for such old BTC to move. These addresses were linked to early miners, and the reason behind the transfer remains unclear.
Additionally, the timing of this movement has sparked further interest, given Bitcoin’s steady rise in value over recent days. While speculation around the purpose of the transfer persists, no official explanation has emerged from the holders of the wallets.
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Potential Market Implications
The transfer of these BTCs, valued at approximately $15.95 million, has not yet impacted the market. BTC’s price remained steady after the transaction, suggesting there may be no immediate plans for liquidation. However, any future sale of these coins could affect the market, depending on how they are handled.
The transfer of Bitcoin from addresses dormant for nearly 16 years has intrigued market analysts. While Bitcoin continues to perform steadily, this development raises questions about the future activity of early wallet holders. Nonetheless, the market has yet to show any significant reaction to the movement of these funds.
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