A total of 26.96 BTC of bitcoin that had not moved for more than 12 years has been transferred to a new personal wallet. The long-dormant holding, worth $1.76 million, moved as concerns over bitcoin security have recently grown, drawing market attention. Still, some analysts say the likelihood of an immediate sale is limited because the coins were moved to a new personal wallet rather than an exchange.
According to blockchain outlet U.Today on Aug. 10 local time, the bitcoin had not moved once since January 2014 before being transferred in full to a new address that day.
On-chain tracking showed the transaction was confirmed in block #961845 that day. The previous address was a legacy address starting with the number "1", and the full 26.96 BTC was moved to a nested SegWit (P2SH) address starting with the number "3". No additional transactions were recorded after the transfer to the new wallet.
The transfer drew attention because of the large unrealised gains. The bitcoin is estimated to have been bought in January 2014 at about $803 per BTC. Based on that purchase price, the principal invested in 26.96 BTC was about $22,000, but its value at the time of the transfer was about $1.76 million. That implies an unrealised profit of about $1.73 million and a return of about 7,975 percent.
The cost of the transfer itself was minimal. The network fee was 0.00000176 BTC, or about $0.11 at prices at the time. It cost less than $1 to move bitcoin worth about $1.76 million.
