Old Bitcoin wallets keep waking up: How many of the 1.8 million ‘lost' coins are really gone? [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
The wallet owner sent $50 million in Bitcoin to Coinbase , notching a profit of over $3 million on coins that used to be worth less than a penny each. The transaction was unusual but hardly unique. Nearly every week, a wallet from Bitcoin's early days "wakes up," raising the question of how many more coins presumed lost could return to circulation. Now, a new survey from Fortune and Chainalysis provides some insight. As the chart above reveals, hundreds of thousands of "lost" Bitcoins—defined by Chainalysis as those that haven't stirred since 2014—have moved wallets in the last few years. The chart depicts the net change in the total amount of Bitcoins held in wallets of four different sizes, including those holding fewer than 50 and those with 1,000 or more. Unsurprisingly, the "fewer than 50" category accounts for the vast majority of old Bitcoin wallets as the graphic below shows. Both graphics show a disproportionate number of old wallets that contain exactly 50 Bitcoins. This
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- Coinbase Global, Inc. (NASDAQ: COIN) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $320.00 price target on the stock.MarketBeat
- Coinbase knocked Q1 earnings out of the park—now comes the hard part [Yahoo! Finance]Yahoo! Finance
- Coinbase's Haas Says ‘Just Another Day in Crypto' After Stock Decline [BNN Bloomberg (Canada)]BNN Bloomberg
- Coinbase Falls Despite Q1 Earnings Beat: ETFs in Focus [Yahoo! Finance]Yahoo! Finance
- Bitcoin's Recent Weakness Is More Tied to Global Markets Than to Anything Crypto Specific, Coinbase Says [Yahoo! Finance]Yahoo! Finance
COIN
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- 5/2/24 - Beat
COIN
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- 5/3/24 - Form 144
- 5/3/24 - Form 4
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- COIN's page on the SEC website