RATE Group | This Dormant $720 Million Bitcoin Wallet Has Woken Up
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This Dormant $720 Million Bitcoin Wallet Has Woken Up

16 Sep This Dormant $720 Million Bitcoin Wallet Has Woken Up

Posted at 17:08h in Bitcoin News by

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Once again in the world of cryptocurrency, we have a mystery on our hands.

A $720 million sleeping giant has woken up after four years, with $100 million moved to Bitfinex and Binance over the course of ten days at the end of August. The bitcoin wallet contains 111,114 BTC or 0.52% of the total supply. The sudden movement of these dormant funds could have a disruptive potential in the market price action, particularly if the funds belong to one of the two possible likely candidates suggested by Reddit sleuth u/sick_silk.

The Redditor brought the movement of the funds to the attention of the crypto community by publishing a series of posts tracking each transaction in detail accompanied with graphs representing the activity.

The first post was made on 31 August and suggested that the funds may be connected to the now-defunct dark web market Silk Road which handled the trade of billions of dollars worth of contraband such as recreational and prescription drugs, illegal…

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