1200 bitcoins worth 20 million movedSource: Adobe Stock

Up to 1200 old bitcoins from inactive addresses moved in the days after FTX crashed, with activity picking up even more in recent days.

Of the many old wallets that have moved coins since the FTX crash, two spent a combined 348 BTC on Nov. 29, a stash once worth just €348,000.

It is difficult to say exactly what the owners did with the coins, and it is not yet clear if they sold them or simply moved them to another wallet, for example, for cold storage.

The 348 BTC that were moved that day are now worth around €5.8 million, a huge increase in value for what they were acquired for.

The news was first reported by Bitcoin.com, using blockchain data and builds from btcparser.com.

A second notable transaction on the same day was a 173,61 BTC transaction from an address that had been inactive since June 14, 2017, as well as a 100 BTC transaction from an April 12, 2014 address.

Of these two transactions, the 100 BTC of the latter had been dormant for nine years, an unusually long period in the Bitcoin world. At the time the wallet address was created, each BTC was trading for less than €500.

Also, a wallet address from April 26, 2013 made a massive 600 BTC transaction last week, December 2. At the time the address was created, the 600 BTC was worth around €84.

Today, those same coins are worth about $10,14 million.

Combined, all of the coins from these inactive addresses that have been spent since November 29 were worth less than €800,000 when the addresses were originally created.

Today, those same 1.221,45 BTC are worth around €20 million.

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