Historic 2017 Bitcoin Wallet Awakens to Transfer $8.25M After 7-Year Slumber
On July 28, 2024, a dormant bitcoin address from 2017 reactivated and transferred 121.63 BTC, valued at $8.25 million, after over seven years.
The transfer, identified at block height 854,349. Involved a Pay-to-Public-Key-Hash (P2PKH) wallet created when bitcoin was priced at $1,187 per coin, reflecting a 5,617.94% increase. The BTC was initially sent in two transactions and later split into several Bech32 wallets.
In July, 15 such dormant addresses became active, moving a total of 529.04 BTC. This resurgence highlights the potential for more dormant wallets to reactivate as bitcoin prices exceed previous highs.
Clever Robot News Desk 30th July 2024
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