Five long-dormant wallets transferred 107 Bitcoin — worth roughly $8.3 million — to a burn address, permanently removing the coins from circulation after more than 11 years of inactivity. Burn addresses are inaccessible wallets with no known private keys, meaning the funds cannot be recovered or spent again. The event slightly reduces Bitcoin’s already limited supply, adding to the long-term scarcity narrative that supports the asset’s value proposition. Traders are now watching whether more dormant whale wallets become active as Bitcoin remains near historically elevated price levels.
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