Old Bitcoin Miner Made a Transaction After 14 Years

In recent days, the rise in Bitcoin prices has continued to attract investors' interest. The price of Bitcoin has risen by 2.2% in the last 24 hours and is currently trading at $110,656. A noteworthy development in the cryptocurrency world is the activity of an old miner's wallet holding 4,000 Bitcoin, which has made transactions after a 14-year hiatus.

According to data reported by the on-chain analysis platform Lookonchain, the wallet associated with the address “18eY9…6EfyM” transferred approximately $16.6 million worth of 150 Bitcoin to another anonymous address around 3:00 PM Istanbul time on Thursday. It is noted that these 4,000 Bitcoin were mined in 2009 and consolidated in the wallet called “18eY9o” in 2011. In 2011, the market value of these 4,000 Bitcoin was only around $16,400. However, today, the same amount of Bitcoin has reached a value of over $442 million.

There has been a noticeable revival in "OG" or old Bitcoin wallets that have remained inactive for a long time. Especially after the mid-year rally in the markets, a whale wallet from the "Satoshi era" sold 80,000 Bitcoin (approximately $9 billion) through Galaxy Digital in July. Similarly, last month, several whale wallets that had not made transactions for a decade carried out Bitcoin transfers worth millions of dollars.

Experts state that such movements from the Satoshi era indicate that old miners are beginning to rearrange their assets and that long-term investors are gradually increasing their confidence in the market. Investors should take these developments into account while analyzing market trends and historical data, as there are many opportunities to be evaluated.