10-Year-Old Bitcoin Wallet Stirs with $100M Transfer

A long-dormant Bitcoin wallet has stirred to life after more than 10 years of inactivity, moving over $100 million worth of BTC. According to Galaxy Research, the wallet transferred 1,260.78 BTC on September 6, which was first received on July 9, 2016, when Bitcoin traded at $652.

The transfer generated an estimated profit of $99.64 million for the whale, representing a gain of approximately 12,122% over the holding period. The wallet's average cost basis was around $652 per BTC.

This is not an isolated incident, as another batch of extremely old Bitcoin holdings resurfaced recently, highlighting a notable increase in activity among wallets that had remained untouched through several major market cycles.