According to blockchain data, a 10-year Bitcoin user transferred coins purchased years ago to another address after midnight today.

Transaction records show that this user purchased 620 Bitcoin on November 25, 2013, and another 383.9 Bitcoin on March 13, 2014.

The Bitcoin price surpassed $1 in 2011 and reached $29.6 on June 8, 2011. However, the subsequent market downturn pushed the price down to around $5. Bitcoin had a quiet 2012 and entered 2013 at $13.

Bitcoin surpassed the $100 level in April of the same year and broke the $200 barrier in October. In November 2013, Bitcoin surpassed $1,000 and closed the year at $732.

This user, who had been inactive for 10 years, sent a total of 1,004.4 Bitcoin to an unknown address. At the time of the transaction, these were worth approximately $56.9 million.

Could It Be Mt. Gox Related?

Mt. Gox, the largest Bitcoin exchange of its time, was hacked in 2014 and lost approximately 950,000 Bitcoin, leading to its bankruptcy.

The exchange managed to recover approximately 140,000 Bitcoin in the following years. The Mt. Gox bankruptcy trustee began returning coins to creditors yesterday.

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post Mystery of the $56.9 Million Bitcoin Transaction: Awakened After 10 Years! appeared first on Coin Engineer.