Six dormant bitcoin addresses since 2011 have suddenly transferred 250 BTC, or nearly $ 22 million during the current course. This transaction, which occurred after 14 years of inactivity, arouses many questions among investors and analysts.
$ 22 million in Bitcoin moved after 14 years
Last Monday, 6 historic bitcoin addresses, which had not moved since their creation in 2011, transferred their balance to new destinations. These portfolios used the old address format “Legacy”, recognizable as a result of characters starting with the number “1”.
Although the identity of the individual transitting these BTC remains unknown, we can notice that around 740,000 dollars were transferred to the British neobanque Revolut.
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When a former Bitcoin holder moves a large sum, several hypotheses emerge:
- Willingness to sell? Some believe that these funds are on the way to being liquidated on the market, which could accentuate the selling pressure;
- Migration to more secure storage? Others believe that the investor simply seeks to strengthen the security of his assets by transferring them to a more recent and secure wallet.
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A spectacular return on investment
In 2011, when these bitcoins were acquired, their value was around $ 1 unit. Today, each BTC is worth nearly $ 90,000, which means that the anonymous investor has seen Its portfolio climb more than 8,300,000 %.
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Whether these bitcoins are sold or not, they recall how Bitcoin has been able to cross economic cycles and offer investment opportunities to the most daring.
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Source: Mempool
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Maxime discovered the world of finance and very young investment before launching from the age of 18 years. His passion for financial assets and new opportunities offers him a good vision of the current economy as well as emerging trends.
Maxime Montlet
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