Bitcoin Wallets Waking Up After Years of Dormancy

In a surprising development, several old Bitcoin wallets have recently become active after years of inactivity. This week, a wallet dormant for 13 years made its first transaction, while another wallet, inactive for 10 years, transferred 1,004 BTC (valued at approximately $57 million) to a different address.

The owner of this 1,004 BTC wallet originally received the Bitcoins between November 2013 and March 2014, at an average cost of $735 per BTC. It remains unclear whether the owner sold their BTC or simply moved them to a new wallet. The possibility of an over-the-counter (OTC) transaction cannot be ruled out.

This pattern of reactivation has been noted in several other wallets as well. Since early July, transactions from wallets inactive for 10-13 years have become more frequent. The activity recorded so far includes:

- Tuesday: A wallet holding 33 BTC made its first transaction after 13 years.

- Wednesday*: A wallet holding 43 BTC became active after 10 years and 4 months.

- Thursday: A wallet holding 119 BTC moved for the first time in 12 years and 4 months.

- Friday: A wallet holding 20 BTC was reactivated after 11 years.

Despite this sudden increase in activity, Bitcoin's price has experienced a decline, dropping from $63,000 to $53,000 during this period. As of 13:45 CET, Bitcoin is trading at $56,670.

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