October Revival: Decade-Old Bitcoin Wallets Awaken, Moving Over $50 Million in Vintage BTC,
One of the most exciting transactions of the week involved 860 BTC — worth just over $24 million at current exchange rates — split between 86 different wallets. Interestingly, all of these wallets came to life nine years after their creation, on January 3, 2014.
On October 4, 2023, each of them transferred 10 BTC, scattered across blocks of different heights. There is undeniable confidence that these wallets, which have been dormant for almost a decade, belong to the same person, given the identical creation dates of the wallets and transactions.
Interestingly, all 86 wallets, each containing 10 BTC, used the “send all” function to “move” the funds to their subsequent addresses. Originally created as legacy addresses, they are now found within P2SH (Pay to Script Hash) addresses.Additionally, an address dated August 10, 2014 was involved this week and 46 BTC were transferred. After a series of 86 transactions during this period, another wallet created on January 30, 2014 transferred 12.56 BTC.
Moreover, a long-forgotten wallet that was over a decade old woke up on July 11, 2013, transferring 504.99 BTC. That's $14 million at today's prices, transferred on October 4, 2023.
Blockchain scrapers also discovered two dormant Bitcoin addresses from 2012 that came to life this week. On October 6, 2023, at the height of block 810,927, a transfer of 200 BTC took place from the address “12FmJ”, with a creation date of October 26, 2012.
The latest address, “1GYPe,” was created on November 10, 2012, and also demonstrated minimal privacy efforts during a transaction on October 6, 2023. The total market value of 426 BTC from both wallets is approximately $12 million.
Numerous long-term holders remain steadfast in their hodling, but some are choosing a different course, and this could negatively impact the price of Bitcoin.
