Crypto
Bitcoin Wallet Unleashes Hidden $538,000 Hoard After 15-Year Slumber
A significant Bitcoin wallet movement has been recorded, with an address holding approximately 8.54 BTC moving its balance after a staggering 15.1 years of dormancy.
The coins were first received on June 13, 2011, when the price of Bitcoin was around $14. The address, starting with '1Emi,' remained inactive until August 16, when the full balance was moved in a single transaction recorded as block 962,770.
According to estimates, if sold, the 8.54 BTC would represent an impressive 461,981% gain from its original cost basis in 2011.
The address has no public attribution, and it is unclear whether the owner sold the coins or simply transferred them for security or custody reasons.