Bitcoin Wallet With 616 BTC Worth $28M Moved After 9 Years

A Bitcoin wallet that had not shown any sign of life for almost nine years finally moved today when its owner transferred all of its 616 bitcoins to a different wallet. 

616.2004 Bitcoin was moved to the wallet back in December 10, 2012. Bitcoin was worth $13.30 back then and the entire transaction was worth about $8,195. At the time of writing, Bitcoin is worth $46,120, which values the 616 BTC to $28.4 million. 

According to Blockchain.com, the Bitcoin moved today at 05:50 UTC. The value of the pot appears to have grown by 0.00001 Bitcoin through 21 intermittent transactions of negligible quantities that went into the wallet over the course of the twelve years, meaning the wallet owner has also made 47 cents. 

Nine years ago, when the wallet received its 616 Bitcoin, investors may have had limited expectations about Bitcoin’s price and traded the coin like it was chump change. Many of the today’s BTC whales bought their coins back when the price was just a few dollars.

Old BTC Movement Speculation

Earlier this year, a wallet containing $5 million in Bitcoin came online again after lying dormant since June 2010. 

A wallet which contained Bitcoin mined in February 2009, one month after the first Bitcoin block was mined, cashed out approximately $500,000 earlier this year. This raised speculation that the transaction had something to do with Bitcoin’s creator, the pseudonymous Satoshi Nakomoto. 

Today’s big wallet news is probably not worth much of speculation. Still, it’s a powerful reminder of the wonders of investing: an increase of 358,655% over nine years is something noteworthy.