Dormant 2012 Bitcoin Wallet Awakens, Moves a Notable 1,000 BTC Worth $60 Million

According to onchain data, a dormant bitcoin wallet created 11 years and nine months ago on Sept. 25, 2012, has transferred 1,000 bitcoins valued at $60 million to an unknown wallet for the first time.

11-Year-Old Bitcoin Wallet Transfers 1,000 BTC for the First Time

An old BTC wallet established on Sept. 25, 2012, moved 1,000 BTC at block height 852,190, as discovered by btcparser.com. This activation coincided with BTC reaching the $60,000 range for the first time in nearly two weeks.

The 1,000 BTC, worth slightly over $60 million, remained untouched for 11 years and nine months. On the day the BTC was acquired, it traded at $12.10 per coin.

Thus, while the 1,000 bitcoins moved today are valued at $60 million, they were initially worth $12,100. The original wallet from 2012 was a legacy wallet known as a P2PKH (Pay-to-Public-Key-Hash) address. The funds were sent to a native Segregated Witness or Bech32 address and, at the time of writing, remain in that wallet.

Most users are paying under 7-9 satoshis per virtual byte (sat/vB), but the user spent 19,107 sat/vB to execute this transaction. Instead of paying $0.68 or 8 sat/vB, the owner of the 1,000 BTC paid 19.41 times more, spending $11.45 for the transfer.

This transaction was somewhat more private than typical dormant bitcoin transfers, scoring 75 out of 100 via Blockchair’s privacy tool. The transaction received a “moderate” score due to multiple instances of the same address in the inputs.

Dormant bitcoins from 2012, 2011, and 2010 have become quite rare, and a 1,000 BTC transfer is unusual. The 2012 owner has benefited significantly from BTC’s value increase, with the stash appreciating by 495,850.41% against the U.S. dollar. This reflects an immense spike, representing nearly a 4,959-fold increase in value.

What do you think about the 1,000 bitcoins moved from a vintage 2012 wallet on Sunday? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn