Wallet with over 110,000 bitcoin remained untouched for four years – now someone is moving the funds

Wallet with over 110,000 bitcoin remained untouhed for four years - now someone is moving the funds.

Image source: Shutterstock / Trijo News

Tim Haldorsson

tim.haldorsson@trijo.co

Someone recently started to transfer funds from a large bitcoin wallet that has been untouched since 2014.

A feature of bitcoin is that all transactions are public for anyone to see. This also means that you can track the transaction history of a specific bitcoin.

Recently, someone has started using a large wallet that contains 111 114 bitcoins. The bitcoin wallet has been untouched since 2014, but now someone has started transferring parts of the crypto assets to different crypto exchanges.

This has sparked speculation on the Reddit forum that large volumes of bitcoin will be dumped into the market. It has also been speculated that the large bitcoin wallet is suspected of being linked to Silk Road, a marketplace you previously could find on darknet.

Could affect the bitcoin price

As the crypto news site Bitcoinist previously reported, the crypto market traditionally has seen the market cap of cryptocurrencies decrease after bitcoin whales have sold off significant sums of bitcoin.

Several bitcoin owners has accused the bankrupt bitcoin exchange Mt. Gox for causing the decline in the crypto market that occurred at the beginning of this year by selling large sums of bitcoin during a short period of time, Business Insider reported.

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