7-Year Dormant Bitcoin Address Awakens, Transfers $8.25 Million

IconCryptoNewsTerminal Staff28 Jul, 2024

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7-Year Dormant Bitcoin Address Awakens, Transfers $8.25 Million

Bitcoin Address Slumbers for 7 Years, Awakens with $8.25 Million Transfer On April 8, 2023, a Bitcoin address that had laid dormant since its creation on April 9, 2017, sprang back to life, transferring 121.63 BTC to an unknown recipient. This transaction, worth approximately $8.25 million at the time, marks the end of a 7-year slumber for the Bitcoin address. According to Bitcoin.com, the dormant address had not registered any activity since its inception. The sudden transfer has raised eyebrows within the cryptocurrency community, sparking speculation about the identity of the sender and the reasons behind the long hiatus. Some experts suggest that the sender may have been an early adopter of Bitcoin who lost access to their private keys and recently regained them. Others believe it could be a cold storage wallet that was finally accessed after years of inactivity. Regardless of the sender's motivations, the transfer highlights the longevity and resilience of the Bitcoin blockchain. Dormant addresses can remain intact for years, serving as a reminder of the untapped potential of cryptocurrency.

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