1000 BTC Worth $61 Million Moved After 11 Years

May 13, 2024

Two Bitcoin wallets that did not indulge in any ‘out’ transaction for almost eleven years have now flushed out nearly their entire balance. 500 BTC each were added in both wallets in September 2013. At that time, they were worth around $66k.  

Wallet 1 Transactions | Source: Blockchair

Over the years, around 20 other transactions took place in both the wallets. None of them were significant enough, and were merely worth a few dollars. Nevertheless, a day back, both the wallets sent their entire 500 BTC balance out.

The wallet statement from Blockchair revealed that both transactions took place within a span of 20 minutes. Collectively, the BTC transferred out were worth $60.795 million, while the remaining balance in the original wallets summed to $74.6.

Wallet 2 Transactions | Source: Blockchair

On-chain data further revealed that coins from one transfer were eventually sent to multiple other addresses, while the coins from the other transfer remained in-tact in the receiving address. The owners of both the wallets remain unknown. However, given the fact that the coins were sent and received on the same days in 2013 and now again in 2024, they could speculatively be the same person or entity.


Is it Still Bitcoin Season?

Bitcoin’s dominance, on one hand, continues to hover above 50%. Using the 50 and 100 EMAs as support, BTC.d managed to pull off a slight spike during the weekend. It flashed a value of 55.25% at press time. Likewise, the market seems to be hesitant to swap from the Bitcoin season to the Altcoin season. The Alt-season’s reading has been consolidating around 40 of late, indicating that Bitcoin has outperformed 75% of the top 50 crypto assets by market cap over the past 90 days.

Evidently, the king coin continues to call the shots, with all other coins taking cognizance of its mood swings. The past few candles on the short-time frames have been green, and as a result, the overall market cap has been floating above $2.3 trillion.

Altcoin Season Index | Source: Blockchaincentre.net

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