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Dormant Bitcoin wallet moves US$31.3M
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Dormant Bitcoin wallet moves US$31.3M

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  • A Bitcoin (CRYPTO:BTC) wallet dormant since 2013 moved 500 BTC worth US$31.3 million on Monday.
  • The Bitcoin was worth about US$500,000 when it last moved 12.7 years ago.
  • The transfer came as other long-dormant Bitcoin holdings moved following a reported Coldcard security incident.

A Bitcoin (CRYPTO:BTC) wallet dormant since 2013 transferred 500 BTC worth US$31.3 million to a new wallet on Monday.

The Bitcoin was worth about US$500,000 when it last moved 12.7 years ago, according to CoinDesk.

Galaxy researchers estimated the Coldcard incident had caused about US$130 million in Bitcoin losses since 30 July.

CryptoQuant data showed about 935 BTC dormant for at least 10 years moved on 3 August.

Another 6,388 BTC dormant for five to seven years moved on 31 July, according to CryptoQuant.

Long-dormant Bitcoin can move for several reasons, including estate transfers, exchange consolidation, custody changes or security-related wallet migrations.

At the time of reporting, Bitcoin price was $63,770.42.

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