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HomeCrypto NewsMarketA 2013 Dormant Bitcoin Wallet Just Moves 5,000 BTC to Kraken, Causing Panic Among Investors 

A 2013 Dormant Bitcoin Wallet Just Moves 5,000 BTC to Kraken, Causing Panic Among Investors 

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A Wallet Moves Bitcoin after nine years.


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Blockchain data has shown the transfer of a large amount of Bitcoin (BTC) to an address on the Kraken cryptocurrency exchange.

According to Ok Link’s crypto analytics platform, a total of 5,000 BTC was transferred from an old Bitcoin address to Kraken. 

The 5,000 BTC were transferred from a Bitcoin address created as far back as 2013, when the world’s largest cryptocurrency was not as valuable as it is today. 

At the time of the transaction, the 5,000 BTC were valued at around $100 million. Popular crypto media outlet Wu Blockchain also shared the development on Twitter. 

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“The Bitcoin whale address (18xGHNrU26w6HSCEL8DD5o1whfiDaYgp6i ) transferred out 5000.01 BTC at 04:50:38 (UTC+8) on September 5th to the Kraken, which is worth about $100m now. The wallet was created, and bitcoins were transferred to this address in 2013.”

It is expected that the owner of the funds could likely sell a huge portion of it, which may plunge the price of the top asset class. The transaction has continued to cause panic in the crypto community, as many fear that a transfer of this sort could wreak further havoc on the value of BTC. 

However, Bitcoin is still changing hands at around $19,872, up 0.3% in the last 24 hours. 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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