On November 1, three wallets moved 6,500 BTC that had been dormant since November 2017. Their combined value at current prices is about $230 million.
Today three Bitcoin whale addresses transferred 6,500 Bitcoins to new addresses, totaling about $230 million. The Bitcoins in these three addresses were all transferred on November 5, 2017, and have been dormant since then. https://t.co/sRJDGQ26Gb
— Wu Blockchain (@WuBlockchain) November 2, 2023
According to OKLink, the coins belong to an ‘ancient stock’, meaning they were mined at least seven years ago. Part of the bitcoins came from the F2Pool address, which may belong to early miners.
Over six years, unrealized profit for one of the wallets amounted to more than $68 million, according to Bitinfocharts.
Since the start of 2023, more than 20,000 BTC have come out of dormancy, half of which date from 2011–2013.
Earlier in October, the owner of a wallet with 2,995 BTC also moved the coins for the first time in six years.