With bitcoin prices holding steady above $74,000, the bitcoin hype that had been dormant for years is suddenly rising as prices surge higher.
Sleeping Bitcoin Vault Opens as Price Surges Higher
Bitcoin (BTC) hit a new record high, with the price hitting $75,397 per coin on Bitstamp, sparking fresh excitement across the entire crypto landscape. The current price is hovering around $74.5k, sparking a movement in some long-idle bitcoins. Notably, when BTC peaked, a user moved 156.0801 BTC from an address that had been untouched since it was created on July 29, 2017.
At the time, bitcoin was trading at $2,726, making it worth around $425,474. Today, that same cache of over 156 BTC is worth an impressive $11.6 million at current rates. Blockchair assigned the transaction a privacy score of 50 out of 100, citing software privacy limitations and the repeated use of the same address in entries. In addition to the 156 BTC from 2017, another dormant wallet from 2013 has resurfaced, sending over 100 bitcoin from deep sleep.
At block height 869,116, the user transferred approximately 109.44 BTC, marking the first such move since March 14, 2013. The funds were split into several different amounts and sent in separate transactions, all confirmed in the same block. These transactions also received a low privacy rating of 45 out of 100 on Blockchair, indicating that the funds were likely transferred from an old wallet to a new Pay-to-Script-Hash (P2SH) address.
As bitcoin’s value continues to rise, once-dormant wallets are becoming active again, hinting at a deeper trend: long-time holders may be reassessing strategies amid volatile market prices. This renewed activity not only underscores bitcoin’s resilience, but also raises questions about how long-time holders react to peaks, suggesting caution about future price volatility with a low priority on privacy considerations.
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