Bitcoin wallet owner migrates 600 BTC worth $52M for first time since 2012
A wallet holding 600 bitcoin that had not moved since July 2012 transferred the coins, worth about $51.9 million, to a new address on Monday, according to onchain data flagged by Galaxy Research via an X post on Tuesday. The bitcoin holding was received more than 14 years ago, when it was worth roughly $8 token.
The move appears to be a wallet migration from a legacy bitcoin address to a Native SegWit wallet, suggesting the owner is undertaking a long-term migration or consolidation rather than a liquidation. The coins were not sent to a known exchange address, and the recipient remains unidentified. Other long-dormant wallets were recently moved by Satoshi-era holders without using exchanges, thereby limiting evidence of immediate selling pressure.
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