RATE Group | Why Storing Bitcoin in a Single Wallet is a Bad Idea
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Why Storing Bitcoin in a Single Wallet is a Bad Idea

14 Sep Why Storing Bitcoin in a Single Wallet is a Bad Idea

Posted at 23:28h in Bitcoin News by

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Late in August, a long-dormant bitcoin wallet suddenly showed signs of activity. While there are millions of BTC wallet addresses out there, this one was special; the wallet in question contained 111,000 BTC and an equivalent amount of bitcoin cash. The bitcoin in this wallet is worth close to $850 million, making it one of the very largest stakes of the world’s most popular digital currency. Although the wallet’s owner remains elusive, thanks to blockchain ledgers individuals everywhere have been able to watch as the wallet has lurched to life, with funds flowing out periodically in the past weeks. Regardless of who owns this particular stash of bitcoins, the discovery of this mega-wallet has served as a reminder to many investors in the cryptocurrency community as to why it is risky to hold a large quantity of tokens in a single place.

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