In the last week, Bitcoin’s price has gone up by more than 5% against the US dollar. Plus, there is also another milestone approaching for the pioneer cryptocurrency. Meanwhile, Sunday morning saw 81.79 bitcoins that had been sitting idle since 2011 move for the first time in 11 years. The value of the said coins is approximately $3.65 million. March 27th, 2022 i.e. Sunday saw Bitcoin’s price go up by 5.8% in the previous week and the increase in price in the last two weeks has been 14.8%. The price increase in the course of the month has been around 16.4%.
However, as opposed to year-to-date, there has been a decline in the value of bitcoin against the US dollar by almost 18.9%. Today, there are about 18,995,393 bitcoins that are circulating in the market. Btcparser.com, the blockchain parser, disclosed that 81.79 bitcoins that had been ‘sleeping’ since 2011 were moved for the first time on Sunday. According to the data, the bitcoins had been mined on January 30th, 2011 and the 50 BTC moved on Sunday had come from that. What is interesting to note is that the subsidy rewards of the ‘sleeping bitcoin’, the transfer that occurred on Sunday had a 100% ‘healthy’ privacy rating.
The privacy-o-meter tool of Blockchairdisclosed that there were no privacy issues involved in the transaction. At the time the transfer was made, the 50 BTC were valued at $2.2 million and the block height was 729,187. After the 50 BTC originating in 2011 were spent, there was movement recorded in another group of ‘sleeping bitcoins’. These were from August 30th, 2011 and the original addressed sent them after a period of ten years and six months. The amount of bitcoins involved in this transaction were about 31.793 and the block height at that time was 729,248.
According to the data, the value of the 31.793 bitcoins at the time of transfer was around $1.4 million. But, as compared to the 50 BTC that were spent, these coins had less privacy at the time of sending. As per the privacy-o-meter tool, the second transaction had a score of 75, which is considered ‘moderate’. The tool was able to identify the matched addresses and said that similar types of addresses were identified in the transaction, thanks to several indicators. The tool clarified that it was possible to identify which recipient addresses belong to the senders, which reduce the anonymity of addresses significantly.
So far, this year has seen about 14 BTC that has been spent from stashes of ‘sleeping bitcoins’ from 2011. Four of these were spent in January, seven in the next month and three in March so far. Before the two spends on Sunday, the last one had happened on the first of March at a block height of about 725,515. Bitcoin’s value had been around $536,000 at that time. On March 26th, a bitcoin address that had been dormant for 9.8 years was also activated and it contained 500 bitcoin. 400 of these bitcoins came from a transaction that took place on June 14th, 2012 while the remaining 100 came from a transaction on November 23, 2013.