A Bitcoin BTC/USD address that had been dormant for more than a decade suddenly sprung back to life on Wednesday.
What Happened: Address ‘1MMXRA’ on Oct. 1, 2012, held 412.12 BTC which, when combined, were worth only $8 at the time. These BTC were accumulated through four separate transactions.
The address decided to empty its wallet at $23,000 a piece. Translated to today’s prices, this move represents a staggering $9.6 million in value, a whopping return of 120,000,000%.
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Earlier last week, a large Bitcoin whale transferred 13,369 BTC worth $311 million from an unknown wallet to another. The transaction was traced to one of the top 65 Bitcoin wallets, according to BitInfoCharts. The wallet was used for both sending and receiving funds.
Price Action: BTC was trading at $22,920, down 1.70% in the last 24 hours, according to Benzinga Pro.
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