Cryptocurrency analytics provider CryptoQuant reported that the “revived” 1,100 BTC worth $25.12 million belonged to a retired bitcoin miner under the alias Ghash.
According to CryptoQuant, these funds remained untouched since 2014, until a bitcoin mining operator transferred the coins to an unknown wallet on July 20, 2022.
Events like this usually cause panic among supporters of the world’s largest cryptocurrency. Many people think that when an owner sells his BTC assets on the market, the bitcoin exchange rate may collapse.
CryptoQuant specialists noticed that 1,100 bitcoins were not sent to the exchange, besides this amount is too small to affect the price of the largest cryptocurrency:
We suspect that almost half of these coins may have made it to the custodial service because the type of receiving address can use multiple digital signatures (P2SH).