A Bitcoin wallet that has been dormant for nearly 12 years has suddenly become operational. The wallet transferred its entire balance of 500 Bitcoins, worth just under $35 million at current prices, to 284 new wallets.
According to data from Lookonchain, the wallet first received 500 BTC on July 14, 2012, when the Bitcoin price was below $8. At that time, the total value of BTCs was less than $4000.
The identity of the person or organization behind the Bitcoin transfer and the reason for the transfer are unknown.
This mysterious Bitcoin movement follows an even more interesting event earlier this week. In 2010, an individual or organization that received 2,000 Bitcoins as mining rewards combined them into a single wallet.
When these blocks were mined, the rewards were worth approximately $600 in total. Now this amount is worth approximately 140 million dollars.
BTC price is trading at $70,050 at the time of writing and has increased by more than 8% in the last week. Adam Back, one of the two people Satoshi Nakamoto e-mailed, claimed in his statement that an all-time high price level could be seen in BTC this weekend.
*This is not investment advice.