TLDR
- A Bitcoin wallet dormant for over 13 years has moved $15.06 million in BTC as the cryptocurrency hits $114K.
- The wallet still holds 307.79 BTC, valued at nearly $35 million after the recent transfers.
- Bitcoin’s price surge is driven by institutional demand and growing market liquidity.
- The wallet originally purchased BTC for just $5,437 back in 2012 when BTC was valued at $12.22.
- Bitcoin spot ETFs recorded $757.14 million in inflows, reflecting strong institutional interest in the asset.
A dormant Bitcoin wallet, untouched for over 13 years, has reappeared on the blockchain. The wallet, holding 444 BTC, transferred 132 BTC worth $15.06 million. This move occurred as Bitcoin’s price surged above $114,000. Institutional inflows and growing market liquidity are driving Bitcoin’s rise.
Bitcoin Wallet Moves $15M After 13 Years
The long-forgotten Bitcoin wallet was activated after more than a decade. It sent 132.03 BTC, valued at $15.06 million, to a new address and five BTC directly to the Kraken exchange.
Despite these transfers, the wallet still holds 307.79 BTC, worth approximately $35 million. This wallet first received Bitcoin on November 26, 2012, when Bitcoin was priced at just $12.22. At that time, the wallet’s total purchase cost was only $5,437.
The current value of these coins is a staggering $15.63 million. This represents an incredible profit of over $15.62 million. “Such a profit highlights the unmatched gains for early BTC holders,” said an on-chain analyst. This story underscores Bitcoin’s potential as a long-term store of value.
Bitcoin has recently regained its footing, trading above $114,000. After a slight dip in late August, BTC is now on an upward trajectory. At press time, Bitcoin is priced at $114,163, marking a 0.27% daily gain.
The cryptocurrency’s recent rally follows a record-breaking surge in mid-August. BTC reached an all-time high of $124,457 on August 14. This rise in value has been fueled by increased institutional interest and market optimism.
Institutional inflows continue to support Bitcoin’s price growth. “Bitcoin has become a key asset for both growth and hedging,” said a market analyst. The positive market sentiment is expected to drive Bitcoin’s price even higher in the coming weeks.
Institutional Inflows and Stablecoin Reserves Surge
Institutional demand for BTC is evident in the recent influx of capital into Bitcoin spot ETFs. On Wednesday, Bitcoin ETFs recorded $757.14 million in inflows, the largest since July 17. This marks a continuation of a three-day streak of positive inflows into Bitcoin funds.
In addition, stablecoin reserves have reached record levels. Binance recorded its highest net stablecoin inflow of the year, totaling over $6.2 billion. This surge in stablecoin reserves suggests that investors are preparing for more Bitcoin purchases.
Across all exchanges, stablecoin reserves hit an all-time high of $70 billion last week. These reserves represent significant liquidity that can be quickly deployed into BTC. If this trend continues, it could provide further support for Bitcoin’s price.
