Crypto News

An Ancient Bitcoin Stash Worth $7.8 Million Just Moved After A Decade Of Slumber ⋆ ZyCrypto

Two Bitcoin whales that had been inactive for over nine and ten years respectively have come back to life, as their owners transferred millions of dollars worth of Bitcoin to new wallets. The first wallet received 1,128 Bitcoin (worth $31.6 million today) in 2012 and 2013, before lying dormant for over a decade. On Friday, 279 Bitcoin worth $7.8 million were transferred to three different addresses from this wallet. The second whale acquired 6,071.5 Bitcoin in 2013 when the price of Bitcoin was around $663. That wallet received its first transaction in over nine years on Thursday, when 2,071.5 Bitcoin (worth $60.7 million) were transferred to a new wallet. This sudden movement of old Bitcoin could be an indication of increased confidence to hold Bitcoin among investors, particularly during periods of market volatility. Meanwhile, Bitcoin’s price has continued to drop, falling 2.33% over the last 24 hours to just above $28,000. The total market capitalization of all cryptocurrencies has also dropped by 2.4% to $1.23 trillion. However, on Thursday, the European Parliament passed the MiCA crypto law, becoming the first major jurisdiction to do so, which is a positive development for the crypto world.

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