Irish Drug Trafficker's Bitcoins Resurface After Years

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

BTC+1%

BILL-1.37%

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Bitcoin Transfer: According to blockchain tracking platform Arkham, Bitcoins linked to Irish drug trafficker Clifton Collins, previously thought to be 'permanently lost,' have begun moving again, with a recent transfer of 500 BTC to Coinbase Prime valued at approximately $30.76 million.
Current Holdings: After this transfer, the address linked to Collins still holds 4,500 BTC, with a total estimated value of around $277.16 million, indicating significant potential and market impact of these assets.
Historical Context: Clifton Collins, arrested for drug trafficking, purchased approximately $30,000 worth of Bitcoin between 2011 and 2012, which has now appreciated to hundreds of millions, showcasing the investment return potential of Bitcoin.
Lost Key Issue: Although Collins claimed to have lost his private keys, rendering these Bitcoins inaccessible for years, the recent transfers in April and May suggest that these assets are not entirely lost, potentially prompting a market reassessment of similar dormant assets.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

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Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	52702.401	55251.295	57882.071	60430.965	63061.741	65610.635	68241.411
Fibonacci	55251.295	57229.929	58452.331	60430.965	62409.599	63632.001	65610.635

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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