Svmuu News: A Bitcoin wallet that had been inactive since late 2017 transferred 5,907.56 BTC—worth approximately $384 million—to a new address on Thursday.
According to Galaxy Research data, these BTC were originally received on December 14, 2017, and were transferred in block 958217 (Bitcoin) at approximately 00:15 UTC.The firm estimates that the position has appreciated by approximately $286 million from an average purchase price of about $17,000, representing a 291% gain.
The funds were transferred to a previously unidentified wallet rather than a known exchange deposit address, and on-chain data does not indicate that the holder has sold any Bitcoin. This transfer also moved the BTC from a traditional address beginning with “1” to the newer bc1q address format.