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George Spencer

October 18, 2021

Wallet With More Than $100M In Crypto Hasn’t Been Touched Since 2017

With non-fungible tokens (NFTs) being one of the most sought after assets in the cryptocurrency space recently, a wallet that has 141 CryptoPunks is now worth over $100 million, and the owner has been HODLing since 2017.

According to data from Larva Labs, the value of CryptoPunk NFTs has increased significantly, with the lowest Punk price currently worth 105 ether (approximately $394k).

The inactive wallet holds some of the oldest Punks and was last active more than four years ago. Interestingly, it is expected that some of the Punks in the wallet will be valued above the lowest Punk collection should the owner decide to sell.

Wallet Attracts Attention

Despite being last active in 2017, the wallet has garnered a lot of attention lately as the market value of NFTs continues to skyrocket.

As per the data, a total of 47 people are currently keeping tabs on it, with hopes that the owner may choose to sell some of the Punk collections in the future.

Meanwhile, some buyers have already made significant moves in a bid to get the wallet’s owner to sell some of the CryptoPunks.

So far, the Punks have attracted 10 bids valued around $8,667 from investors who are looking to convince the owner to sell some of the digital arts.

CryptoPunks’ Rising Value

Launched in mid 2017, CryptoPunks have a fixed supply of 10,000 non-identical characters. The collection is among the earliest NFT projects and is believed to be the inspiration behind the CryptoArt movement.

Since its launch, the collection has been featured in Bloomberg, the Financial Times, CNBC, the New York Times, etc., which also contributed to their popularity over the years.

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Also, the NFT space has become a topic of interest for many crypto traders since the beginning of the year, especially as the famous Beeple Art sold for $69 million in March.

Crypto Twitter Reaction

Reacting to the development, some market participants went to Crypto Twitter to discuss the possibility of holding valuable assets like the famous CryptoPunks for over four years without thinking of selling some of the digital arts.

One user, known as @swissbeatsis commented that “[The] best way to ‘diamond hand’ is to forget you have hands,” indicating that the best way to hold assets of such for a long time is for the owner to forget about it completely.

However, another tweep with the username @10Xrp suggested that it is possible the owner of the CryptoPunks is dead, commenting:

“It is very important that your family or someone you trust will know how to access your wallet after you die. Otherwise it is lost and worth nothing really.”