Compass Investments

Crypto vs. Dollar

📌 A wallet that had been dormant since 2013 has suddenly converted more than $60 million dollars into bitcoin (BTC) – which is where cryptocurrencies go.

Two wallets that held a total of 1,000 bitcoins (BTC) for more than a decade have suddenly awakened from their slumber, according to data obtained on the blockchain. Btc

– Two wallets that held a total of 1,000 bitcoins (BTC) for more than a decade have suddenly awakened from their slumber, according to data obtained on the blockchain.

Crypto tracker Lookonchain noted that the first wallet received 500 BTC worth $62,000 on Sept. 12, 2013, when the bitcoin price was $124.

The second wallet received the same amount the next day at the same price.

After more than a decade of downtime, both wallets transferred all the funds in 20 minutes over the weekend. The total amount of bitcoins stored was $60.9 million, an increase of 49,012.9% .

According to digital asset de-anonymization platform Arkham, the cryptocurrency was sent to two newly created wallets. One of the addresses still holds 500 BTC, while the other is sending bitcoin through a number of other new wallets.

In April, Ki Young Ju, CEO of blockchain analytics platform CryptoQuant, said that the new cryptocurrencies (by which the company means investors with an average coin age of less than 155 days and holders of at least 1,000 bitcoins) had accumulated almost twice as much BTC as their longtime counterparts. The company noted that they have accumulated

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