BITCOIN WALLETS WAKING UP AFTER YEARS OF DORMANCY
In a surprising turn of events, several old Bitcoin wallets have suddenly become active after years of inactivity. One such wallet, dormant for 13 years, made its first transaction this week. Another wallet, inactive for 10 years, transferred 1004 BTC (approximately $57 million) to a different wallet.
The owner of this wallet had received the BTCs between November 2013 and March 2014, with an average cost per BTC of $735. It is unclear whether the investor sold their BTCs or simply transferred them to a new wallet. However, the possibility of an over-the-counter (OTC) transaction cannot be ruled out.
This phenomenon has been observed in several other wallets, with transactions made from wallets inactive for 10-13 years becoming more frequent since early July. The activity has been as follows:
- 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 woke up after 11 years.
Despite this sudden activity, Bitcoin's price has dropped from $63,000 to $53,000 during this period, currently trading at $56,670 as of 13:45 CET.